USD/JPY is trading in a small local consolidation under the resistance level of 113.20 now. It is worth noting that large volume is concentrated in this range, so the breakdown of this consolidation will be an excellent signal for entering the market. Considering the presence of a strong uptrend and the fact that the price is testing the resistance once again, it is worth giving preference to the breakdown scenario at level 113.20, which will be a good sign for continuation of the uptrend. The breakdown movement must be sharp and on increased volume, which will be a more accurate signal for entry and will significantly reduce the probability of a false breakdown. A stop loss should be placed under the breakout volume bar. The potential of the deal is 120 points.
The bottom line: long positions after a breakout of the resistance.
The bottom line: long positions after a breakout of the resistance.