FX.co ★ USDJPY approaching trendline support, potential for a further rise!

Price approaching ascending trendline support and technical indicators are also showing room for further bullish momentum. A bounce above 1st support at 105.835 towards 1st resistance at 106.150 can be expected.

Trading Recommendation

Entry: 105.835

Reason for Entry:

Ascending trendline support, Moving average support, 61.8% Fibonacci retracement

Take Profit: 106.150

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 105.701

Reason for Stop Loss:

Recent swing low