USDJPY Bullish Divergence

USDJPY Bullish Divergence

U.S. Dollar/Japanese Yen
FX:USDJPY

DLavrov

The trading idea is based on a bullish divergence which gives us a trend reversal signal. The price bounces from 109.00 support level and RSI confirms price reversal in the oversold zone. MACD histogram supports possible upward movement. Entry level can be 109.50 with stop orders at 108.20 level. Profit targets are 111.00 and 114.00 resistance levels.
Source: TW DLavrov

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