- USD/JPY is on the verge of a restest of the 110.00 level.
- Bulls have pierced the hourly resistance and broken 15-min structure.
USD/JPY is on the way to the 110 area as the US dollar continues to firm following Friday’s bullish perforace.
The -61.8% Fibonacci of the hourly correction comes in at 109.99.
Hourly chart
15-min chart
The 15-min resistance structure was broken in the Tokyo open which would now be expected to act as support.
Bulls have a high probability set up on the table at this juncture.
This article was originally published by Fxstreet.com. Read the original article here.
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