Trend is up in USD/JPY currency pair, daily time frame. As I have suggested past week during my daily Live trading room session, market is moving sideways and play the trading range. So, all those Forex traders who have followed the analysis have made the right decision as the price has moved sideways. In my judgement, price is printing a bullish Elliott wave Symmetrical triangle pattern and strong key support level is present at 116.19 price level.
Be sure to check out daily Forex market updates via Live Trading Room. In my judgment, market action is now in the process to break out of converging trend lines and rise up in next coming trading days towards 126.15 price level.
Current price action offers a possible buy trading chance to join an upcoming bullish leg. However; if price of USD/JPY currency pair falls below 116.19 support level then I might like to stay out of the market and re-examine the price chart of USD/JPY currency pair.