SubscribeUSDJPY Daily chart
We can see broken downtrend line. After breaking trend line price started moving within channel. I expect upward movement till red line @ 80.54
Good luck
Thread: Usd/Jpy
USDJPY Daily chart
We can see broken downtrend line. After breaking trend line price started moving within channel. I expect upward movement till red line @ 80.54
Good luck
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Also noticeable falling interest of market participants and jpy pair also formed a converging triangle with two inclined faces after such lateral movements tend to come in strong and abrupt changes that need to be prepared.
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The main purpose of JPY is still about sloping resistance line to which the price is moving now, today, there was a retreat from the long-term support level (inclined), and if it is able to break through the sloping level of something to be 80.55.
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As expected, pair looks rejected by 79.85, still sideways, lets see if pair breaks this sideways channel in US session on US data releases, downward movement will open the way to 79.30
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If we analyze the 4 hour chart, you can see the triangle formed converging, the couple is in limbo, and it is not clear which side of the triangle will be broken, I continue to watch it. I think that still go to the north.
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
The pair is now trading within the lateral canal yesterday, a bit rate did not reach to the bottom of the channel and went to a retreat to the north, the rate approaches the upper slope of the line (the strong resistance of 80.00) from him, I expect a retreat to the south.
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The RSI is supported by bullish trend line. Long position is preferable at 79.45 with price targets 80 and 80.25. If the price goes to below 79.35 then we can expect downward movement 79.1 and 79 as price targets.
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