orvilleawright

BULLISH USDJPY 1 Hour: Down channel has been broken

FX:USDJPY   U.S. Dollar/Japanese Yen
Nov 17 2015: BULLISH USDJPY             1 Hour: Down channel has been broken
(Analysis Based on 1 Hour chart)

Observations
1. Price has broken the down channel and has created a higher high
2. RSI overbought at swing high

NOTE: Wait for price action to confirm the importance of these levels. Buying zones are at retest of previous structure as well as retest of the down channel which has been broken.

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