Bullish USD/JPY PA

Major trendline broken and closed above on volume. Trump winning the election swing quickly recouped losses and a break above 107.39 could see further continuation as long as this level holds and we get a close above it. First minor resistance comes in around 108.45.22 and major resistance comes in from 111 (cluster of lows and highs) to 112 (50% Fib coming in at 111.37)

Note

Very overbought coming into the 38.2 Fib. Could see a pullback before another leg higher

Trade closed: target reached

First minor resistance reached

Note

Pullback as discussed. 107.40-50 key for another leg higher into 111

Trade active

Broke yesterdays high. Continuation of the move into 111. Clusters of minor levels above here so PA could slow down

Note

Just entered a cluster of lows and highs. Should see some resistance here

Note

Previous comment as price is around 109.10-20

Note

Price Action slowing down as discussed. Very overbought coming into this area. We need to see some accumulation and position building for another push higher into the major 111-112 area.

Note

Testing yesterdays highs after holding minor resistance as discussed above. Should see it hit major resistance (111-112) if we can get a close above yesterdays high

Note

Closed above the high and opened and broke yesterday's high also. Very aggressive PA. Could see it hit resistance as early as today.

Trade closed: target reached

7 pips from resistance. Should see it slow down up here

Note

Sellers stepped in as USDJPY approached major resistance levels just before 111

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