Forex Technical Analysis: Trend potential – We are long towards 113.37.

USDJPY – Down

We are long towards 113.37.

Technical observation

USD/JPY is still above the supportive zone 112.66-112.60 and as long as it remain above it I expect nothing but bullish momentum towards113.37 and a breakout above it for a further rise in price towards the highest resistance 114.53, if you bought this pair yesterday within the above mentioned zone, remain long with your ideal target at 113.37 and stop loss around 112.18.In case you had not bought this pair yet, wait for another retracement to the zone and a bounce within it to buy this pair. In case of a clear breakout above 113.37, continue long with UDS after a pullback to the just broken line confirming possible bullish momentum.

Technical levels

Resistance levels

R1.112.02

R2.112.07

R3.112.18

Pivot

111.104

Support levels

S1.111.91

S2.111.84

S3.111.73

Trade signal

We are long towards 113.37.

Do you know against which currencies JPY is the most profitable?

We are long towards 113.37.

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