InvestingScope
Short

USDJPY: Long term sell opportunity.

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
USDJPY is trading within a Channel Down since the start of 2017. So far it has made 3 clear Lower Highs and 2 Lower Lows. We are expecting on the long term to attempt the third Lower Low. So far the price is borderline neutral on the 1D chart ( RSI = 45.445, MACD = -0.200, ADX = 32.097), a Death Cross is close to taking place (when the MA50 crosses below the MA200) and the obvious medium term target is the 104.500 Symmetrical Support.

The same Lower High pattern was followed successfully on our most recent long term trade on USDJPY:





** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).

Comments

I will be following as well, here is my TA
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out