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orvilleawright

BULLISH USDJPY 15 Min: Bear channel broken; Buy support

U.S. Dollar / Japanese Yen (FX:USDJPY)  
orvilleawright  
FX:USDJPY   U.S. Dollar / Japanese Yen
15min USDJPY Bullish Patterns buy LONG Ascending Channel Descending Channel support Support and Resistance price-action structure-trade rsi_overbought
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15min usdjpy bullish buy long ascendingchannel descendingchannel support supportandresistance price-action structure-trade rsi_overbought
Nov 17 2015: BULLISH USDJPY 15 Min: Bear channel broken; Buy support
(Analysis Based on 15 Min chart)

Observations
1. The bear channel has been broken buy
2. RSI overbought

NOTE: Wait for price action to confirm the importance of these levels. Down trend has been broken and price is moving up. I expect a correction soon. Prepare to sell buyer failure down to the support level. Buy support if price reacts at that level.

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