The USD/JPY resistance level that we had been trading both sides of has broken out and as you can see from the two charts below, broke out of a flag too:
USD/JPY Weekly:
I say it’s a flag because of the higher time frame bullish trend line that we have on the weekly chart but being so subjective, you can really call it whatever you want.
For me, it’s all about keeping my levels as simple and obvious as possible so I can day-trade them after zooming in intraday.
Speaking of an intraday chart, lets have a look at the breakout:
USD/JPY 4 Hourly:
