USD/JPY Bounced Perfectly, Remain Bullish For A Further Rise

Source: Forex Analysis

The price has made a pullback to our buying level and bounced off perfectly as it continues its way towards our profit target. Our major support buying level is at 109.98 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we remain bullish above this level for the price to rise to 110.86 resistance (Major 61.8% Fibonacci retracement).

RSI (89) has made a pullback to our RSI and bounced off perfectly too.

Buy above 109.98. Stop loss at 109.61. Take profit at 110.86.


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