USDJPY looks to continue it upside today into the FED FUNDS which are due today a 2:00. Through UK trading prices broke a constricting wedge only to find a floor at the 50% retracement level. Prices are currently struggling to break through the 108.15 level which is labeled neckline, should prices resist off these levels we should see support around the wolfe wave support line and form an inverted head and shoulders.
Comments
PIPFOLLOWER
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no i didnt lose i trade with signals. I changed my position before breakeout. my fault is I dont follow news :) now i am short in usd jpy
cwikinvest
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Usd/Jpy is not strong enough to go long at the end of the week we will see stop on 107.30 resistance so from that point we are going to see what happend for now to me is Neutral because price stuck between to strong support zones breakout will give us clear in wich side we will go. Have a nice trading ;) and keep your chart possible as you can because more stuff more complications.
adriel.arrasmith
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Did a different analysis, but long as well.
PIPFOLLOWER
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it will not be long it will be short
Iridium
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Well it looks like we are on the opposite side of the trade good luck. I hate fed days tho it will prob have a 200 pip range so the current trend suggests more continuation to the upside.
Iridium
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I win u lose lol
PIPFOLLOWER
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no i didnt lose i trade with signals. I changed my position before breakeout. my fault is I dont follow news :) now i am short in usd jpy