USDJPY. Time for a sqeeze

With a 92% of bulls on Yen, USDJPY has resisted to close below 109 even on times of severe waves down on stock indexes. I believe a 109 will act as a good base for bulls in order to plot a good bear squeeze in a term of nearest weeks.

Notice also a large Bat pattern which, to date, is perfectly valid. Also, price has rejected several times from a Pitchfork Median Line.

Therefore, I bought last week at 109.37, then at 109 and pretend to add longs somewhere next week. As my target area is 117, I set a Stop loss below 107.

Comentário:

Weekly chart and a 109 -117 range

Trade ativo:

LOnged 109 and 109.37. First one at bereakeven now