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Technical analysis:
USD/JPY has been trading sideways in last few days and there is the symmetrical triangle pattern in creation. Watch for potential breakout to the upside.
Trading recommendation:
Due to the upside cycle on the USD/JPY and potential for the breakout of the triangle watch for the upside breakout to confirm further bull continuation.
Watch for the potential buying opportunities in case of the upside breakout.
Stochastic oscillator is showing fresh bull cross, which is good sign for further bull move.
Key support is set at the price of 142.50
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
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