USD/JPY: bears are attacking

USD/JPY: bears are attacking

Recommendation:

SELL 111.15

SL 111.70

TP1 110.15 TP2 109.90 TP3 109

On the daily chart, bears managed to seize the initiative and return USD/JPY to the long-term downtrend channel. As a result, the odds of it getting to 161.8% target of AB=CD increased. It’s located near 109.

USDJPY daily.png 

On H1, USD/JPY is forming a “Bat” with the 88.6% target. A break of support at 110.60 or a retest of the lower border of the uptrend channel near resistance at 111.15 will allow bears to continue the attack.

USDJPY h1.png

Similar

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera