USDJPY has broken through support

USDJPY has broken through the support line of a Pennant technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 17 days and suggests a possible target level to be around 150.5609 within the next 18 hours.

Target: 150.5609 Entry: 151.4733 Stop: 151.973