USDJPY Holds 106.80 Support, Pushes Back Towards High Of Trading Range Around 108.90

Trend: Bullish (short term)

Relevant Key Levels: Resistance at 108.50 and 108.90. Support at 104.60 and 106.80.

Price Action: Price has broken up strongly from an Inside Bar + Tailed Bar Combo.

Current Notes: A break and close above 108.50 could see prices break out of the recent sideways congestion and activate a short term uptrend.

Potential Trade Idea: We will consider buying on any weakness and after a price action signal whilst prices remain above the 106.80 support area. Upside Targets to 108.90 and beyond.

USDJPY

Nial Fuller is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. Checkout Nial's Blog - Learn To Trade The Market.

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