USDJPY holding above ascending trendline support, showing that the trend has changed. With technical indicators now showing room for further bullish momentum, a further push up above our 1st support at 110.422 towards our 1st resistance at 110.816 could be possible.
Trading Recommendation
Entry: 110.422
Reason for Entry:
23.6% and 50% Fibonacci retracement, ascending trendline support
Take Profit: 110.816
Reason for Take Profit:
-27.20% Fibonacci retracement
Stop Loss: 110.200
Reason for Stop Loss:
38.2% Fibonacci retracement, Graphical swing low support
