USD/JPY: yen can strengthen

USD/JPY: yen can strengthen

Recommendation:

SELL 108.4

SL 108.95

TP1 107.4 TP2 106.75 TP3 106.05

On the daily chart of USD/JPY, the “Shark” pattern is transforming into 5-0. After a correction to 50% of the wave CD, an advance above May high will open the way up to the pair. On the other hand, a break of diagonal support (the lower border of the uptrend channel) and the triggering of the “Bat” pattern will increase the odds of it reaching 88.6% target.

JPY1.png 

On H1, a decline below support at 108.40 will trigger a “Head and Shoulders” pattern and AB=CD will allow bears to develop their attack.

JPY2.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