Pair USDJPY is in strong bullish trend. It’s 5 th week of growth. On H4 chart we can see trend line which was rejected  5 times …if actual attempt will break the trend line we can expect  declines to 111.60 . Additionally Bearish divergence on MACD supports declines. Level 113,30 if  defeated and retested from the bottom as resistance can give us occasion for going Short.

usdjpyh4-08-12a
USDJPY H4 Price close to trend line

In case  the growth trend line will not give up and at level 113.30 price will rebound we could see continuation of bullish trend and reaching level of strong resistance 115.80 seen on Weekly chart ( green area).

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USDJPY Weekly

Dargo,08-12

 

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