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dcoppens99

USD/JPY 4HR False breakout?

U.S. Dollar / Japanese Yen (FX:USDJPY)  
dcoppens99  
FX:USDJPY   U.S. Dollar / Japanese Yen
Support and Resistance Trend Lines Chart Patterns USD USDJPY Technical Analysis channelbreak retest
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supportandresistance trendline chartpattern usd usdjpy technicalanalysis channelbreak retest
As you can see USD/JPY has been on a downtrend in the daily timeframe. There has been a breakout from the channel but it is going to meet some very hard resistance in the 110.400-110.655 level. If it respects this level today look for short term SHORTS. If it breaks above this zone, wait for retest and look for LONG calls.


Happy investing! Good Luck!
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