USDJPY: Don't Miss This Trading Opportunity

104.4 is a very important structure level for USDJPY .
In January we saw a strong bearish reaction from that and now, after its breakout, it turned into support.

On that, the price formed a double bottom formation this week.
The first low of the pattern was nicely rejected from the underlined level.

To buy wisely, I recommend waiting for 4H violation of 104.8 minor resistance.
Then buy the pair aggressively or on retest.
Goals: 105.2 / 105.65

In case if the price sets a new low on 4h, setup will be invalid.

Yorum:

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