Aurum Markets Blog Technical Analysis Possible start of a bullish trend as USDJPY breaks resistance

Possible start of a bullish trend as USDJPY breaks resistance

Possible start of a bullish trend as USDJPY breaks resistance post thumbnail image

USDJPY has broken through a resistance line. It has touched this line numerous times in the last 7 days. This breakout shows a potential move to 150.7258 within the next 2 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.

Supported by Upward sloping Moving Average

Target: 150.7258 Entry: 150.115 Stop: 149.1849

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