Expecting USDJPY to move up as it is touching the lower side of an important trend-line on 4Hr chart as shown.
RSI looks poised to go up as well - as currently it is in oversold area..
Trade with caution as a break of this channel could mean further downside slide..
RSI looks poised to go up as well - as currently it is in oversold area..
Trade with caution as a break of this channel could mean further downside slide..
Trade closed manually
USDJPY broke out of the range on the downside as can be seen.Now the support could become the resistance as it might try to re-test the lower end of the trend-line..
Note
Price has reached the same resistance zone (previous trend-line) again.Watch-out for some action...
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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.