USDJPY has tested ascending trendline from local highs of 16 and 21 October, 119.66 and 120.09, projected at 120.35. It is confirmed with static barrier 120.32 and creates first support level for USDJPY.
Expected scenarios:
A. Buy USDJPY at 120.35 support test, SL below intraday low at 120.18, target 121.20.
B. Support is broken, USDJPY declines to 06 Oct support line in 119.60/70 area, then rebounds to 120.80.
Your input would be much appreciated!
Expected scenarios:
A. Buy USDJPY at 120.35 support test, SL below intraday low at 120.18, target 121.20.
B. Support is broken, USDJPY declines to 06 Oct support line in 119.60/70 area, then rebounds to 120.80.
Your input would be much appreciated!
