Hi guys, USDJPY is forming a Flag Pattern on a daily and weekly timeframe.
It was in an uptrends from 102.36 to 118.18 forming the pole of the flag and has retraced back 38% fibonacci level to a price of 111.363 which is a major support level.
The stochastic rsi indicated that the retracement is complete and now the price is heading towards buy setup.
Take profit 1 can be - 124.32
Take profit 2 can be - 129.11
Take profit 3 can be - 133.47
It was in an uptrends from 102.36 to 118.18 forming the pole of the flag and has retraced back 38% fibonacci level to a price of 111.363 which is a major support level.
The stochastic rsi indicated that the retracement is complete and now the price is heading towards buy setup.
Take profit 1 can be - 124.32
Take profit 2 can be - 129.11
Take profit 3 can be - 133.47