USDJPY, Descending-Bull-Pennant, Breakout Incoming!

Hello Traders Investors And Community,

Welcome to this analysis about USDJPY on the 4-hour timeframe perspectives. As I discovered recently USDJPY is forming a very interesting formational structure that can lead to a dedicated breakout when USDJPY shows up with the right price-actions in the schedule. As when looking at my chart now we can watch there how USDJPY established this major descending-bull-pennant which is in most occasions a bullish-continuation-pattern setting up a further continuation to the upside, this is also likely to happen here as USDJPY already finalized the wave-count within the formation of a final breakout above the upper boundary of the formation will complete the formation and will activate upside-targets marked in my chart in blue. The whole structure can be traded either with aggressive entry while price-action still stays in the formation or with conservative entry after the breakout has emerged, although the aggressive entry is also possible the conservative one will be the much better option, traders need to decide according to own risk preferences. When the upside targets are reached the situation needs to be elevated anew.

In this manner, thank you for watching my analysis about USDJPY and the descending-bull-pennant that awaits a dedicated breakout with activation of upside-targets in the next times; will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
"Good luck is when opportunity meets preparation."

Information is only educational and should not be used to take action in the market.

Comment:

ANALYSIS UPDATE: USDJPY continued with the full completion of the descending triangle formation to emerge with a greatly extended upper boundary breakout.

USDJPY since greatly increasing the volatility with the channel breakout reached all of the target zones within an accelerated upthrust.