USDJPY Trend analysis
Updated
after forming a bearish flag, the pair could BO downward. However, we could only go as low as 111.60 as we are near a strong zone (blue shade) and a long term TL (green thick line).
a long order can be placed after forming a double bottom at 111.10 and respecting lower TL.
a long order can be placed after forming a double bottom at 111.10 and respecting lower TL.
Note
still inside the flag. no crossing so farNote
BO, testing the flag from below the TLNote
BO failed after trying to test the flag. now the pair is back in the flag. going to test 113.30, upper flag and long term median line.Trade closed: target reached
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