USDJPY - POTENTIAL BREAKOUT Long

U.S. Dollar/Japanese YenFXCM

Description

⋅ Jan 28, 2021 7:52 AM

ANALYSIS 🔎
- USDJPY brokeout above the falling wedge resistance as expected from my previous analysis.
- RSI is printing a bullish divergence signal.
- Price action is printing an ascending triangle pattern.
- There's an upward breakout potential.

BUY ENTRY ⬆️
- Breakout above the ascending triangle's horizontal resistance.

TARGETS 🎯
- Horizontal resistance levels (R1, R2).

SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.