USDJPY is waiting for upside breakout
Updated
USDJPY
Due to the weakness of USD it's felled to the 105.500 level .After that it has regained some of the loses and turned positive for the day today the trading range is 100 pips.
We can expect a short term fall back towards 106.250 level at that juncture all the 50,100,200 EMA's are acting as the major barrier for the bearish.
After reaching the upside trend line which is expected closing of third wave 03 suitable buy orders may opened at 106.250.
Potential take profit would be around 107.900
For Swing traders take profit would be 109.800 which is a June high
IMPORTANT LEVELS
June high-109.867
June low -106.107
July high-108.160
July low -104.215
Due to the weakness of USD it's felled to the 105.500 level .After that it has regained some of the loses and turned positive for the day today the trading range is 100 pips.
We can expect a short term fall back towards 106.250 level at that juncture all the 50,100,200 EMA's are acting as the major barrier for the bearish.
After reaching the upside trend line which is expected closing of third wave 03 suitable buy orders may opened at 106.250.
Potential take profit would be around 107.900
For Swing traders take profit would be 109.800 which is a June high
IMPORTANT LEVELS
June high-109.867
June low -106.107
July high-108.160
July low -104.215
Trade active
The trend line is still acting as barrier
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