USDJPY – Down
On the 4 Hour chart above, USD/JPY is rallying upwards towards a resistance line 114.53. Previously, Price broke above a resistance zone 113.60-113.52 with a big green candle before moving up. With two corrections to this zone, I expect another pullback to it followed by a rejection within it for possible bullish momentum towards 114.53 and breakout above it for a further rise in price. If you are long already, remain in the trade and pick your profits at 114.53, if you have not bought this pair yet, wait for a correction to 113.60-113.52 and a rejection within it to pick long positions towards the key line 114.53.
Remain long towards 114.53.
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