USD/JPY – Week 2 – Bulls starting to gather momentum

As mentioned in our past analysis, USD/JPY broke out strongly of the falling wedge pattern, and we grow confident that the upside move will continue. The price closed above the 104 levels and we expect more bulls to join the party, as we might soon witness a break of upper channel line which may be fueled by the U.S. inflation numbers that are going to be released next week. If you missed the buy, patiently wait for a price pullback and try to enter again without over-leveraging your position.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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Bull market expected to start next week