USDJPY: Anticipating an uward breakout

USDJPY is cautiously forming a sideways formation and an upward breakout is the most probable scenario.

We will use the 15min chart for entry. A strong candle with close above 145.30 will be our entry signal, targeting 145.90 and 146.25. Stops below 144.65.

4H Chart: Same red color candles in a row reaching support zone and the speed of the move is gradually declining.



15min Chart: A sideways formation is in play. An upward break at the 15min chart will give the entry signal