- USD/JPY bulls are in control into the Tokyo open and eye 107 the figure.
- The 15-min time frame offers prospects of a discount to target higher highs.
The price is in bullish conditions according to the hourly and 15-min time frames and is expected to make a continuation to test the bear’s commitments at and around 107 the figure.
Hourly chart
The price of USD/JPY has been making a steady incline towards the 107 area in a series of higher highs since the 26th Feb downside correction.
15-min chart
While the price has already taken-off, there are prospects of a retracement to the 38.2% Fibonacci that meets with the prior resistance looking left from which bulls could engage with for a discount.
Share
