USD/JPY: how to trade the pair?

USD/JPY: how to trade the pair?

2019-11-11 • Updated


SELL 111.8

SL 112.35

TP1 110.8 TP2 110.3 TP3 107.85

On the daily chart of USD/JPY, bears have been testing the bottom line of the upward channel. If the pair breaks the support at 111.6, risks of the implementation of the “Shark” pattern with the 88.6% target will increase.  


On H1, there is a correction of the “Head and shoulders” pattern. A break of the neckline will increase chances that the AB=CD pattern will be implemented and the pair will reach its 200% target at 110.3.



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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