Price broke out of the H1 downtrend on USDJPY!
Last week we saw market reaching the 107,45 and it then quickly rose back up.
This week the upside move continues and now we have a higher low and a higher high.
This kind of price action alongside the downtrend breakout gives us a signal that we should see an upside continuation.
We could expect price reaching next levels of resistance at:
108,72
109,39
Price is also at a Daily support which is an extra confirmation!
Last week we saw market reaching the 107,45 and it then quickly rose back up.
This week the upside move continues and now we have a higher low and a higher high.
This kind of price action alongside the downtrend breakout gives us a signal that we should see an upside continuation.
We could expect price reaching next levels of resistance at:
108,72
109,39
Price is also at a Daily support which is an extra confirmation!
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✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.