USD / JPY
Our expectations: As we predicted a few days ago, bullish sentiments are in place and the possibility of a new upward impulse is high. Possible long when test the breakthrough at 111.00 or slightly above these levels with stop 109.95
Alternative Scenario: A possible fall in the price under the stop could boost the short-term downward movement where we should get out of our long positions.
Comment: Upward movement is in effect: Pin bar at support levels - strong bullish signal
Indicators in a highly positive territory showing that the short-term upward movement is likely to continue.
Breaking key levels of resistance after 4 unsuccessful attempts now is a fact
It is good to wait for the bar to close and see if the closing will be over 111.00 if it is a fact we are waiting for a correction for new long positions.
Stop loss: 109.
Stefan Angelov - Head of Stocks Trading
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