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theforexarmy

USDJPY profit target reached perfectly again, time to buy

Long
Dollaro / Yen giapponese (FX:USDJPY)  
theforexarmy  
FX:USDJPY   Dollaro / Yen giapponese
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Buy above 112.58. Stop loss at 112.21. Take profit at 113.75.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) is seeing strong support which is signalling to a price bounce.
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