Bullflag on USDJPY - Longsetup on break the upper lineUSDJPY Shows a flag in bullish trend channel. The channelbottum was already touched and now you have a good opportunity to go Long.
Channelline
USDCAD D1: Third test on Trend-line - will it retrace? USDCAD has been consolidating inside a Trend-line and Channel-line for a few days.
And at the moment, price has finally reached the third potential test on the Channel-line (28 Aug - 1.2899), corresponding to several previous tests on this Support Area.
-
At the second test on the Channel-line, it is evident that the 50.0% Fibonacci Retracement level (1.2957) held the price.
We then expect the current price to increase (depending on the reaction of this third test) and hit the 50.0% line . And from there, retraces for just a few and continue on its advancement to the trend-line.
-
If not, we have a few supports below the current price holding our back. :)
- John Wood.
