Get started
AndriyMoraru

Ascending Channel on USD/JPY @ D1

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
AndriyMoraru Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Ascending Channel Parallel Channel USDJPY Daily Charts Harmonic Patterns breakout
1
0
ascendingchannel parallelchannel usdjpy daily harmonicpatterns breakout
The ascending channel pattern on D1 chart of USD/JPY shows a potential for a bearish breakout. The pattern's borders are shown with the yellow lines. My potential entry level is shown with the cyan line. My potential target level is the green line. Stop-loss will be set to the high of the breakout bar (not shown on the chart).

The pattern is very similar to what is currently going on in GBP/JPY. The trades are correlated, so be careful.

More information, tools, a chart template, and a free expert advisor to trade this pattern in automatic mode on
www.earnforex.com/bl...y-ascending-channel/
Trade active:
Entered at 122.776 with SL = 123.575 and TP = 120.843.
Trade closed: stop reached:
Stop-loss hit at 17:14 UTC.
You can find useful tools to detect, build, and trade chart patterns - all completely free on www.earnforex.com.

Related Ideas

AndriyMoraru
Ascending Channel on GBP/JPY @ D1
AndriyMoraru
Bullish Flag on USD/JPY @ D1
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.