USD/JPY is above major support at 100.70 (horizontal support, Fibonacci projection, long term Fibonacci retracement) where we expect a bounce from to at least 102.70 which is our next major resistance (overlap resistance, Fibonacci retracement).RSI (21) is above our long-term ascending support line and displays bullish divergence vs price signaling a bullish move is in progress.
Buy above 100.70. Stop loss is at 99.00. Take profit is at 102.70.
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