The Pair USDJPY is in Strong Bearish Movement from the last some days. On the last Friday, We see a sharp bullish reaction from the Fibonacci 79 level with the influence of the trend line support.
By Considering 4-hour chart, we can find the price break support at 106.65 that turns Resistance now. Again Price breaks a short term Resistance sharply at 105.30 that’s also an indication of bullish are getting the strength on this pair. This sharp movement makes a liquidity gap and the price can rebalance the gap before further bullish movement. As the price offers resistance at 106.65 so the target of the bullish movement will be 106.65. Further movement will depend upon the reaction of this level.
