Price had been moving higher since my last blog post on USDJPY (read here). Recently, price on USDJPY broke through another important resistance level on daily.
What I mean is the level around 114.50. This level is another daily resistance area that important enough to keep an eye on after the previous level has been broken around 111.40. The 114.50 now act as the new daily support level. If price pullback to this area, I will start hunting for the opportunity to go long. I will keep my eye also on the intraday chart.
USDJPY daily chart – zoom out
USDJPY daily chart – zoom in
USDJPY 4-hour chart