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Breakouts

AUDUSD Break-out performanceLooking back at the bigger picture of this break-out, there could be two additional targets for the price to go lower. Looking closely, the formation of another rising wedge ( ) over the last two weeks with Stochastic indicating an already overbought condition. Resistance should be around the 0.74950 mark although there is also an advanced pattern completion a bit higher than this, I would not be surprised if price gets to 0.75400-ish before it goes South. Intermediate and Max targets are set using the bigger structure patterns. The longterm trendline acts as resistance (blue dash line) while the pip count goes off the roof. I trust you this should be a longer term trade, quite possible but still to be closely monitored for changes. Let me know what you think about this.
Short
by Telson
1
USDJPY 60min Preparing for a BreakoutUSDJPY on the 60min in consolidating in the shape of a Descending Triangle. These patterns tend to cause large breakout moves in the markets. I'll be watching this pattern and will be waiting for a Break & Close out of the pattern to give me direction. As of right now I have no idea which direction it will break, so I will not involve myself until I get my signal. Also we are at a Major Support Level in the market. I love finding these patterns at higher time frame structure levels.
by PateSkpate
7
USDJPY Breakout USDJPY has been in a bearish channel since the start of 2016. Now finding itself with a tightening of the channel due to a strong level of support from the 100.000 price level. If the bearish momentum continues there could be a breakout under the 100.000 price level. If 100.000 continues to act as strong support, there could be a potential bullish breakout. The fundamental factors to look out for is the FOMC and BOJ meeting on Wednesday 21st September. These two events could cause a breakout to the upside or downside.
by ameetfx