USD/JPY Technical Analysis for buying :
USD/JPY broken the resistance level on 4 hour chart. and USD/JPY is moving in an uptrend channel in 1 hour chart (click to see)
After breakout at the resistance, market starts to move in sideways and it has re-tested the resistance level again and bounced up.
USD/JPY still respecting the resistance zone and bouncing up. So, the old resistance acting now as a new support zone.
USD/JPY broken the bottom level of Uptrend line in 1 hour chart.
After breakout, market starts to move sideways and formed a flag pattern.
Recently, USD/JPY broken the top level of the flag. This shows that Buyers are pushing the market up in 1 hour chart.
As per Forex GDP signal rules, After market reaching target 1, we always recommend our users to close some trade position and then move the stop loss price to entry price for safe trading.
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