jangseohee

Long term channel violated

FX:USDJPY   U.S. Dollar/Japanese Yen
1998 12 7
Ever since the pair broke out of the inverted head & shoulders in Dec             2012. Price never look back. After some struggling, it finally broke the multiple S/R line of 101.3. Both downtrend line connected from Sept 1998 were both broken, it then continue to break the long term downtrend channel top! What a bull

If the current steep channel is valid, i anticipate some consolidation to before heading for 123.4, or it might retrace back to channel support point B for further price action
Comment:
snapshot
It could rise to the upper range of the channel as well. I don't know whether it will reach it as well, but can imagine some further attempt up.
Reply
jangseohee motleifaul
Bulls on a vengeance, highly possible
Reply
The chart is right, but I believe the break is false. We'll see a sharp reversal down.
+1 Reply
Did you notice that, the previous 3 tops all have some sort of H&S patterns? Say yes :-)
There is definitely another upswing wave after left shoulder is formed to complete a HEAD which is a higher high. Bring that back to present, i thought i see complicated left shoulder completed, price is looking at peak of the potential HEAD now :-) and yes, it will reverse until Yellen run out of BULLets
Trade well my friend
Reply
so it took path A, but not reaching 123 yet, maybe next life :-)
snapshot
Reply
snapshot

zzzzzz
Reply
well, it actually took the A path
current situation
snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out