JPY could nicely FALL again!

FX:JPYBASKET   FXCM Yen Index Basket
Hey tradomaniacs,

The JPY-BASKET is currently testing a strong resistance-zone after the breakout of a triangle 👉
So far sellers are taking some action and try to defend their zone which could lead to a pullback back down to the 61,8% fib-level.

A little bit suspicious is that a tringale usually contains 4 Waves, from A-D. Since a triangle is always a 50/50-Game due to the obviousness of retail-positioning which are waiting for breakouts, I expect price to move down as this could be a fakeout.

If this is the case and the US-DOLLAR keeps falling, we might get a great chance to catch dips at GBP/JPY and EUR/JPY .

Watch it carefully if you trade JPY-Pairs❗️😊

LEAVE A LIKE AND A COMMENT - I appreciate every support! =)

Peace and good trades

Wanna see more? Don`t forget to follow me

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.