I'm currently long USDJPY at 134.737 and 134.892. My target is 138.700. I'm looking for any opportunities to scale in additional entries to capitalize on this massive move. There is excellent 4H bullish sentiment as TDI suggests that price is still overall bullish. The Daily is pushing for structural higher highs. The 1 hour timeframe is clearly in an uptrend and there's some confluence of a pullback after the 1H presented an evening star at its most recent high. I anticipate a retracement near the 136.160 area, 4H support (re-test) or potentially the back of a trendline. Intraday setup but the volatility is present for a bullish push.
A reversal candlestick on top of support and in a confluence area will trigger another buy.
A reversal candlestick on top of support and in a confluence area will trigger another buy.