USD/JPY: is here a pattern?

USD/JPY: is here a pattern?

2020-08-12 • Updated

Price action in USD/JPY is in line with the bearish harmonic pattern “Gartley”. The pair has approached resistance at 106.88 (descending 50-day MA). The slide below 106.60 (200-MA on H4) will open the way down to 106.25. If, however, the USD keeps rushing higher and surpasses 107.00, it will get a chance to rise to 107.24 (100-day MA) and 107.55. 

Trade ideas for USD/JPY 

SELL 106.55; TP 106.25; SL 106.70

BUY 107.30; TP 107.50; SL 107.15 

USDJPYH4.png

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