Now where have we seen this pattern before? Oh yeah most instruments. Now its time for the USD to top around these levels.
The ascending channel (in blue highlights) is indicative of corrective price action and most often bearish. If we had a descending
channel this pattern would not be complete. A strong downward trend is likely for the USDJPY.
The ascending channel (in blue highlights) is indicative of corrective price action and most often bearish. If we had a descending
channel this pattern would not be complete. A strong downward trend is likely for the USDJPY.
Note
It still looks like USDJPY will fall at this point.
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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.