Home Polls & Quizzes USDJPY: Make a Trend Line or Horizontal Resistance Line Breakout?

USDJPY: Make a Trend Line or Horizontal Resistance Line Breakout?

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USDJPY has been up-trending by obeying a Trend line on the H4 chart. However, the level of 108.950 is a strong level of resistance where the price already had a rejection. The price did have a rejection earlier as well.

The price is to make a breakout to give a direction to the traders to go with. Which way would it go? Would it make a horizontal resistance breakout and head towards the North or make a trend line breakout and head towards the South?

Scenario 1: Make a breakout at the horizontal resistance?

Scenario 2: Make a breakout at the up-trending Trend Line

 

USDJPY: Make a Trend Line or Horizontal Resistance Line Breakout?

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