USD/JPY Bulls Are Still Strong

The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.

The USD/JPY is still very bullish. We can clearly see the bullish order block (red line) and a possible bounce off the level.

108.60-80 is the POC zone. This is a retest of the order block which is currently playing out. If the price manages to close above 108.88, we should see a continuation. Targets are 109.08, 109. 30 and 109.50. A move towards 109.50 will be a confirmation of the more prominent ascending scallop pattern on H1 timeframe.

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