fxplan

USDJPY: rejected 118 and faces major resistance

USDJPY formed a bullish pin bar on Thursday. (and a bullish divergence with the RSI.)

USDJPY has recovered after making a low on Thursday. The pair is facing major trend line resistance at 120.00, next support is around 119.20 and break below targets 118.50

Plan:
1. Buy: around 119.45 with SL at 119.15 for the TP of 120.50
2. Look at on the chart, I see two trend lines converge at 120.00 level. and at the point will watch closely for price action sell signals to get short.
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