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

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.