USDJPY: Long Opportunity, Repeating the Same Bullish Pattern?
Updated
Hello Fellow Global Forex Trader, Here's a Technical outlook for USDJPY!
Price Action Analysis
1. On the H4 Timeframe, USDJPY is moving above the bullish trendline and EMA200 after creating a rebound on the support area
2. USDJPY made a descending broadening wedge pattern two times
3. The recent breakout of the pattern could indicate a possible bullish bias ahead
The Momentum Indicator
Stochastic is made hidden bullish divergence pattern, hidden bullish divergence confirmed a potential upside movement to the target area.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the USDJPY"
Price Action Analysis
1. On the H4 Timeframe, USDJPY is moving above the bullish trendline and EMA200 after creating a rebound on the support area
2. USDJPY made a descending broadening wedge pattern two times
3. The recent breakout of the pattern could indicate a possible bullish bias ahead
The Momentum Indicator
Stochastic is made hidden bullish divergence pattern, hidden bullish divergence confirmed a potential upside movement to the target area.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/support area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the USDJPY"
Note
Double Top on JPYBASKET, Trigger for a bearish trend ahead :)Note
Target 2 136.687, sorry for the typo
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