Price action for USDJPY has been behaving nicely, and the first yellow area marked in my previous post acted as solid support.
We have the conditions to consider a running flat was finished and price will continue rising.
Nevertheless, note that we have also formed a triangle (green lines) and the upside is capped by the top of the triangle and a very strong resistance at 155.50 (Orange Circle).
My primary scenario is bullish, and a break above 115.50 is my entry point.
We have the conditions to consider a running flat was finished and price will continue rising.
Nevertheless, note that we have also formed a triangle (green lines) and the upside is capped by the top of the triangle and a very strong resistance at 155.50 (Orange Circle).
My primary scenario is bullish, and a break above 115.50 is my entry point.
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