Happy week traders, I hope you had a great weekend! Today, we are looking at USDJPY which is in a strong uptrend even after the last CPI number that was lower than expeted. Usually, when an asset continues a trend even with conflicting data it means the trend is very strong and is not about to stop. Technically, we can see that price formed a rising wedge that was not able to be broken to the downside because price was held by the level 145.00 that was a resistance which has just turned into a support and is the one we just bounced from... I am expecting price to break higher and continue creating higher highs and higher lows to the next pivot points that we will use as our potential targets.
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My SL is at entry point. We are seeing a potential reversal...
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New higher low
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Approaching TP1
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Closing 60% of my position in profit.
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TP1 hit!
