Trading2ez

JPY could nicely FALL again!

Short
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
Irasor

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