UsdJpy: Looking Upwards But Not Married To The Idea

Long

U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)

Updated

FX_IDC:USDJPY U.S. Dollar / Japanese Yen

Comments on the chart

Comment:

Price appeared to bounce off the lower boundary (support) but lost the gains by the end of the day. A breakdown is still possible. If we get a breakdown then price could go lower towards 109. This would turn the channel into a continuation pattern with a fall of 300 pips (the height of the channel)

Comment:

we have a breakdown from the structure. a close below here by the end of the day means we should be looking much lower. And the stock market too

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