FX

USD/JPY Price Analysis: Bulls targeting 110.00

  • USD/JPY is on the verge of a restest of the 110.00 level. 
  • Bulls have pierced the hourly resistance and broken 15-min structure. 

USD/JPY is on the way to the 110 area as the US dollar continues to firm following Friday’s bullish perforace. 

The -61.8% Fibonacci of the hourly correction comes in at 109.99. 

Hourly chart

15-min chart

The 15-min resistance structure was broken in the Tokyo open which would now be expected to act as support.

Bulls have a high probability set up on the table at this juncture. 

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