USDJPY profit target reached, time to turn bullish
Buy above 113.06. Stop loss at 112.58. Take profit at 113.82.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above the 8% level and is turning up.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (21,5,3) is seeing strong support above the 8% level and is turning up.
