USDJPY Analysis: 02/26/19

An ascending triangle is forming and the price is near the support trend line.

The last two day, price tried to push above 111.00 level but fail which indicate there is more sellers above 111.00 level.

The RSI is 55 which is more bullish.

Strategy 1: If the price breaks below trend line 1, I will sell with take profit 110.25, stop loss 111.20.

Strategy 2: If the price breaks above the resistance 111.00, I will not trade.

Strategy 3: If the trend line 1 is strong, and RSI is still above 50 level, I will scalping(BUY) with 5-15 pips target. 

usdjpy analysis

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