The chart shows a possible breakout on USD/JPY, clearly stated by the short volume the market has, and three levels of support being tested 3 times in the past. Just remembering, the more times a key level has been tested in the past, the more accurate it can be.
Price has also reached a Swing Low, which shows more evidence of a future strong and definitive trend.
I believe the market will give us a start of a new and fresh trend with these levels of "cheap" - stated as Support from some traders.
Price has also reached a Swing Low, which shows more evidence of a future strong and definitive trend.
I believe the market will give us a start of a new and fresh trend with these levels of "cheap" - stated as Support from some traders.
Note
The short volume the market current has may indicate that traders are indefinite if whether the price will continue on this downtrend.*
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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.