USD/JPY Price Analysis: Bulls take on critical resistance

USD/JPY bulls take charge on a break of structure.
Bulls now face the next layer of resistance which guards the daily target.

Ross J Burland FXStreet

Further to the prior analysis, USD/JPY Price Analysis: Bulls await a breakout of consolidation, DXY weighs, bulls have taken the reins and pushed the price over the line.

Prior analysis

The prior analysis illustrated the critical resistance.

4-hour chart

Bulls will now need to overcome the resistance structure of the recent highs from which the position's stop-loss could be moved to breakeven.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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