USDJPY is trading within a descending triangle formation on a daily.
the price keeps setting lower highs respecting the same horizontal support with equal lows.
descending triangle is a bearish pattern.
today we may see a breakout attempt of its support.
in case of a daily candle close below, bearish continuation will continue
goals:
104.74
104.2
also, be focused on the reaction of the market to the yellow support,
we may catch a pullback trade there on lower timeframes in case if we have a solid confirmation.
Trade closed: target reached
Check my new analysis on EURCAD!!!
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.