USDJPY - Intraday - We look to Buy a break of 104.73 (stop at 104.49)
Daily pivot is at 104.00.
We look for gains to be extended today.
We are trading at oversold extremes.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Our outlook is bullish.
Our profit targets will be 105.45 and 105.62
Resistance: 104.70 / 105.00 / 105.60
Support: 104.20 / 104.00 / 103.70
Daily pivot is at 104.00.
We look for gains to be extended today.
We are trading at oversold extremes.
Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
Our outlook is bullish.
Our profit targets will be 105.45 and 105.62
Resistance: 104.70 / 105.00 / 105.60
Support: 104.20 / 104.00 / 103.70
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SL hit.
