USD/JPY has broken through its 15-month support, signalling the completion of the falling wedge pattern.
Today it broke through the support with sufficient force to signal a new downtrend. Consider Target Area 1 as the most conservative target in the coming weeks. If it succeeds to break through this support, consider exiting your position at the second target area.
The second target is to be considered a very strong area of support since its placed at the COVID-crisis low.
Today it broke through the support with sufficient force to signal a new downtrend. Consider Target Area 1 as the most conservative target in the coming weeks. If it succeeds to break through this support, consider exiting your position at the second target area.
The second target is to be considered a very strong area of support since its placed at the COVID-crisis low.
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