Tony9
Short

USD/JPY Bearish Pennant Ahead of Advance US GDP

FX:USDJPY   U.S. Dollar/Japanese Yen
17 0 1
With the US Advance GDP due at 12:30 GMT the pair is currently trading within a bearish pennant. The RSI has also turned and broken down already below its lower ascending channel and is testing the 50 neutral point. Like I said in my previous post a Bearish Pennant is a continuation pattern so the bias is bearish and I expect a break out to the downside and target the length of the pole to the low of the candle that was created when the FOCM statement was released (120.02).

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out