Tony9
Short

USD/JPY Bearish Pennant Ahead of Advance US GDP

FX:USDJPY   U.S. Dollar / Japanese Yen
18 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).
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