USDJPY has broken major descending resistance and also overlap resistance triggering a strong rally. We look to buy above major support at 106.41 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up all the way to 107.85 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (55) has made a similar bullish exit signaling that we’ve seen a change in momentum from bearish to bullish.
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