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.
Comment:
Well done,continue now. ;))
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