Wait for retracements to buy Usd towards 118.00 | 21 September 2017
21 September 2017, USD/JPY
Technical Observation:
Since the beginning of September this year, Usd has been making higher lows and even went above a key 4 hour resistance line 111.35. I went long following the breakout above this line and is still holding onto this position. My expectation is that the price should rise even further towards 118.00 or even higher. As it is, I'm waiting for a a minor retracement towards 112.05 to pick a long position with an ideal take profit 118.00. If you didn't long Usd around 111.35, you could wait for retracements to pick a long position.
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