FX.co ★ USDJPY holding above ascending trendline support! Push higher incoming!

USDJPY holding above ascending trendline support, showing that the trend has changed. With technical indicators now showing room for further bullish momentum, a further push up above our 1st support at 110.422 towards our 1st resistance at 110.816 could be possible.

Trading Recommendation

Entry: 110.422

Reason for Entry:

23.6% and 50% Fibonacci retracement, ascending trendline support

Take Profit: 110.816

Reason for Take Profit:

-27.20% Fibonacci retracement

Stop Loss: 110.200

Reason for Stop Loss:

38.2% Fibonacci retracement, Graphical swing low support