Hi guys,we have a short term look at USDJPY and a long term prediction.
As you see in my chart i have a bearish wedge in blue that show it's time to short but in other hand i have a long term Symmetrical triangle that is a continuation pattern,we had a break out of it but one of the important part of these triangles is fake break outs.
So my first target is 111 in favor of bearish wedge and after a test of triangle as a support maybe we continue upward to black dashed line but have many resistance in way and i think we will break triangle and enter that again.
I will update this post with any new sign but what i'm sure about it now is a little drop from this area.
If you want to short don't forget stop loss.
Good Luck.
As you see in my chart i have a bearish wedge in blue that show it's time to short but in other hand i have a long term Symmetrical triangle that is a continuation pattern,we had a break out of it but one of the important part of these triangles is fake break outs.
So my first target is 111 in favor of bearish wedge and after a test of triangle as a support maybe we continue upward to black dashed line but have many resistance in way and i think we will break triangle and enter that again.
I will update this post with any new sign but what i'm sure about it now is a little drop from this area.
If you want to short don't forget stop loss.
Good Luck.
Note
Well done,continue now. ;))
Note
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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.