USDJPY Double Bullish Scenarios To Follow

Price is currently sitting inside a magnet zone that formed from the last bearish cycles. Bullish divergence is also present which adds more pressure for the bears. We can look for buys as long as the last swing low around 108.10 is holding. Here are the USDJPY double bullish scenarios to follow:

USDJPY D1 Chart – Magnet Zone

Chart USDJPY, D1, 2017.04.20 09:04 UTC, FxPro Financial Services Ltd, MetaTrader 4, Demo

USDJPY Buy Scenario 1
Chart USDJPY, H1, 2017.04.20 08:58 UTC, FxPro Financial Services Ltd, MetaTrader 4, Demo

On the H1 chart pair is currently consolidating, so If price reaches the marked zone around 108.70 we can try longs.

Protection below 108.10.
First Target – 111.00.
Final Target – 112.00.

 

USDJPY Buy Scenario 2

Chart USDJPY, H1, 2017.04.20 09:01 UTC, FxPro Financial Services Ltd, MetaTrader 4, Demo
Breakout above 109.20 can be another trigger for us to go long.
Stop loss – below 108.30.
First Target – 111.00.
Final Target – 112.00.

 

Yours,

Vladimir

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