Hello traders,
Dexter here with a quick update on USDJPY. This update is on the daily chart and if you are into forex trading then it is going to be helpful for you.
After 84 days of bleeding reds, the USDJPY is showing some signs of recovery. A straight -16% drop has formed a falling wedge pattern and the current price action is indicating a rally around the corner. Currently, USDJPY has broken above the symmetrical pattern as well which looks good and if the market goes under the favor of bulls then we can expect the USDJPY to reach ¥138 in the coming days. The invalidation point for USDJPY will be ¥131.2 support level.
Key points:
* ¥131.2 support level.
* ¥138 expected target.
I hope this update was helpful to you. Trade safely.
Dexter here with a quick update on USDJPY. This update is on the daily chart and if you are into forex trading then it is going to be helpful for you.
After 84 days of bleeding reds, the USDJPY is showing some signs of recovery. A straight -16% drop has formed a falling wedge pattern and the current price action is indicating a rally around the corner. Currently, USDJPY has broken above the symmetrical pattern as well which looks good and if the market goes under the favor of bulls then we can expect the USDJPY to reach ¥138 in the coming days. The invalidation point for USDJPY will be ¥131.2 support level.
Key points:
* ¥131.2 support level.
* ¥138 expected target.
I hope this update was helpful to you. Trade safely.
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.
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.