2 months ago I published a monthly chart of USD/JPY tradingview.com/v/spiG7J1f/ At that time I noticed a significant DIVERGENCE. On monthly frames DIVERGENCE is a sign that a long term bottom is in place and a start of a new bull phase. Now we have this parabolic move run up as seen on the daily chart. This move will most likely continue to at least the KEY resistance if price can clear the top of CLONE of A. Isn't it interesting that the top edge of the green CLONE sits almost exactly beneath the KEY resistance level.
Comments
nmike
⋅
well, we have to duplicate another 2 CLONES , the larger CLONE & the smaller CLONE
rianantoko
⋅
y...SBR
Dmtz4444
⋅
I agree
nmike
⋅
update .... USD JPY bounced off at a clone support and now it's back above CLONE of A, it is likely that price will break KEY resistance near term.In the chart above you can see that price found support right at the 45min channel boundary...