FX.co ★ USDJPY breaking out of consolidations. Buy on dips around 99.60/80

Technical outlook and chart setups:

The currency pair is seen breaking out of cone consolidation here. It is recommended to buy on dips towards 99.60/80 levels on the downside now. It is the backside of resistance line, which is support now hence ideal to buy between 99.60/80 levels now. Higher up resistance levels are seen at 101.00 and 103.00; while supports are at 98.00, followed by 97.00 and lower. Please note that sideways breakouts are quite aggressive and powerful and tend to cross barriers quickly. The overall structure indicates a bullish breakout here with upside extending towards 110.00 levels possibly. Looking to buy on dips aggressively.

Trading recommendations:

Aggressive traders, buy 50% now (100.35) and remaining 50% on test of the backside around 99.60/80, set stop below 98.00, target is open.

Good luck!