The overstretched USD/JPY is gaining some traction to the bull side.
The bullish ABCD pattern formed indicates a reversal in the counter.
And an engulfing bullish candle has formed.
The RSI indicator is lurking at the oversold zone, awaiting a bullish crossover.
Hence we expect the pair to rise to the resistance level of 109.085.
The bullish ABCD pattern formed indicates a reversal in the counter.
And an engulfing bullish candle has formed.
The RSI indicator is lurking at the oversold zone, awaiting a bullish crossover.
Hence we expect the pair to rise to the resistance level of 109.085.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.