FX:USDJPY   U.S. Dollar/Japanese Yen
28 0 0
UsdJpy             on weekly chart has a nice descending triangle . Any chart pattern is not valid until it is in the middle of developing. Current situation can mean a continuation of the long term bullish trend , or reversal. Until price stays inside this triangle it is hard to say what is going to happen next. Upper triangle's line is now playing an important part.
Technical chart patterns can be tricky sometimes and as a traders we are enforcing our own believes into the market. As example I can draw the same situation like this:
snapshot
where Head&Shoulders pattern can be seen. So, until the chart pattern is not complete it is dangerous to judge the market direction.
I am very interested in Traders opinion on this chart.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out