Aurum Markets Blog Technical Analysis Confirmed breakout on USDJPY 4 hour chart

Confirmed breakout on USDJPY 4 hour chart

Confirmed breakout on USDJPY 4 hour chart post thumbnail image

USDJPY has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 145.7346 may materialize within the next 2 days.

Supported by Upward sloping Moving Average

Target: 145.7346 Entry: 144.0822 Stop: 142.7055

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