USDJPY Potential Bullish Continuation

2022年7月15日

On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to our buy entry at 139.429 where the swing high resistance is. Once there is upside confirmation of price breaking buy entry, we would expect bullish momentum to carry price to take profit at 141.444 in line with 78.6% fibonacci projection. Alternatively, price could drop to stop loss at 137.771 where the pullback support, 61.8% fibonacci retracement and 100% fibonacci projection are.

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