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Peymana71
Jul 13, 2018 3:03 PM

USDJPY Short

U.S. Dollar / Japanese YenFOREX.com

Description

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.

Comment


Well done,continue now. ;))

Comment

Comments
TomPower
ok, ding dang dong, fakeout breakout, wow no one is calling that. have some gurus looking for new highs
Peymana71
@TomPower, They always looking fore new high after a little bounce,i call it greed.
EatsMyLife
I already shorted and start getting some profit.
seems to work. If the gold stop dropping too and look at US stock is at the same time ready to drop.
Bo
Beautiful analysis and geometrical presentation. Very compelling, thank you!
Peymana71
@Bo, You're welcome and thanks my friend.
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