Bullish Potential
Since our last post on USDJPY about the Inverse Head and Shoulder Breakout, we were waiting for a retest of 107.6 and 107.15 zone.. Price seem to be respecting the zone so we are still maintaining our bullish bias on USDJPY en-route to 109.300...
The pair is still trading along the neckline with a double bottom within a symetrical triangle on 4H.
However timing in entering into the trade is very key in order to avoid unnecessary draw-down.
We will like to position ourself to the upside with a BUY STOP @ 107.687 with the target around 109.300
In case our order is not trigered to the upside, we will still look for entry order around the 107.15 if the pattern is still valid.
Happy trading
The pair is still trading along the neckline with a double bottom within a symetrical triangle on 4H.
However timing in entering into the trade is very key in order to avoid unnecessary draw-down.
We will like to position ourself to the upside with a BUY STOP @ 107.687 with the target around 109.300
In case our order is not trigered to the upside, we will still look for entry order around the 107.15 if the pattern is still valid.
Happy trading
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