U.S. Dollar / Japanese YenUpdated USDJPY Trade Idea
In yesterday's analysis, I discussed above the current corrective behaviour of UJ, forming an exhaustion pattern (Flag) after the rejection from 102.64 support level (Initial impulse). Today's setup will remain similar, looking for short-term buying opportunities, a violation of the pattern could send price towards 104.27 & 104.70 resistance zones. However, be aware that a downwards breakout of the pattern could also send UJ towards 103.000 support zone. Do not forget the overall trend on the higher timeframe remains bearish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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.