March 7, 2017
By Admiral Markets
The USD/JPY has been supported by multiple bullish patterns on H4 chart (ABCD, W 1 2 3, leaned W) and currently its outlook is bullish. We can spot 2 POC zones where the pair could bounce. The first POC 113.55-78 (EMA89, ATR pivot,38.2,WPP, order block) marks a potential move up as we can clearly see leaned W pattern shaping up. Even below within 112.04-34 (L4, ABCD rejection, 88.6) we can see the bottom of bullish W pattern. USD/JPY longs might form a swing towards 115.00, 115.65 and 117.05.
Article by Admiral Markets
Source: USD/JPY is Keeping Bullish Continuation Patterns
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