FX.co ★ Daily Video Analysis: USDJPY facing bullish pressure, potential for further rise!

Today we take a look at USDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure as it continues to hold above the ascending trendline support, and Stochastics is also showing signs of bullish pressure. We could see a bounce at buy entry, in line with 61.8% Fibonacci retracement, and further upside towards take profit, in line with 61.8% Fibonacci retracement and horizontal swing high resistance.