Cup & Handle Breakout in USDJPY

17 Haz 2023

USDJPY did breakout from cup and handle formation at 138 zone. The price retraced toward the breakout zone and was hovering sideways for 8-10 trading sessions before finally pushing on the bullish side (on the US Dollar).
The price seem to have completed the retracement after the breakout at 138 zone and looks ready to continue upward in the direction of the breakout.
Longs can be initiated on the USDJPY pair for 148.85 as the measured move target. SL below 138.40.

Note, BoJ may come to interrupt the bullish flow of this chart once again, so be nimble and prepared to reverse positions upon any plausible bearish central bank action.

10 Tem 2023

İşlem elle kapatılmış

Closed manually at rejection in price at 145 resistance zone.