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Valesco_Trading_Group
Nov 17, 2017 10:25 AM

#USDJPY blind guess on support Long

U.S. Dollar/Japanese YenFXCM

Description

Hello all,

We see this pair is having a difficult time breaching the earlier support it rallied from. Combined with the wicks we are seeing, this looks promising.
On the chart a nice clean falling wedge is in development as well, therefor we advice to enter the trade with enough space to get out if the resistance of the wedge holds.
Once this resistance breaks, we can see a retest of the high before any further drop. The real drop might be triggered after testing the weekly resistance trendline once again.

Good luck

Comment

We missed this one, but the overall view remains valid:

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