USDJPY is currently retesting its bullish breakout of its previous flag pattern. This pattern was structurally-bullish, so it is probable the retest will confirm a new wave higher. A potentially excellent long entry point at these levels if price can hold the retest, targeting next resistance.
If the retest fails, we look towards the base of the double top to see if it breaks towards the weekly support line.
If the retest fails, we look towards the base of the double top to see if it breaks towards the weekly support line.
