USD/JPY profit target reached perfectly, remain bullish for another bounce

Price has risen perfectly to our profit target before retracing back down. It is now on a good entry level and good support and we look to buy above 111.94 (Fibonacci retracement, horizontal overlap support) for a push up to 113.06 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance).

RSI (34) remains above its support at 52% and we remain bullish on price as long as it holds above this level.

Buy above 111.94. Stop loss at 111.40. Take profit at 113.06.


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