USD/JPY May
USD/JPY May fall 50-100 pips
Insight - Price has broken out of the ascending channel and has hit resistance at 111.53. Price is likely to continue downwards to hit support at 110.11 or lower.
Intraday - 4H
Trade: Sell
Entry 110.60
Sell or Below: 111.63
Target TP: 110.11 & 109.17
Pivot and Support 110.11
Alternative scenario:
Trade: Buy
Buy or Above 111.63
Target TP: 112.27 & 113.17
Insight - Price has broken out of the ascending channel and has hit resistance at 111.53. Price is likely to continue downwards to hit support at 110.11 or lower.
Intraday - 4H
Trade: Sell
Entry 110.60
Sell or Below: 111.63
Target TP: 110.11 & 109.17
Pivot and Support 110.11
Alternative scenario:
Trade: Buy
Buy or Above 111.63
Target TP: 112.27 & 113.17
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