USDJPY FAKEOUT
- Allowing the market to open and settle before taking any moves. As you can see right on market open we formed a 1hour bullish engulfing. All this was seeming to do was creating a wick to the upside and a false breakout to push back down
- We can now regard that area i have highlighted in green as a false breakout
- We're back trading across our key level of 105.5 and still holding a support
- We are possibly going to see a head & shoulders pattern occur
- We can now regard that area i have highlighted in green as a false breakout
- We're back trading across our key level of 105.5 and still holding a support
- We are possibly going to see a head & shoulders pattern occur
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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.