USD/JPY has been trading within a Symmetrical Triangle chart pattern.
If the direction of the breakout is higher or lower
Key Support Levels: 106.415, 106.88, 107.678 Key Support Levels: 105.173, 105.30, 104.144
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Possible Long Move: Entry: 105.45 Target: 106.70 Stop: 105.0
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Comment
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Our support could it hold to the possible upside move. I guess we going to the 104.144 then to 103 mark..it just broke out the our support at 105.173 it even got below our triangle..Good time to sell ?
Why are you prediciting a long setup? is it due to the market retracing in the triangle setup?
Hosi-Khulu
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@NeoThabo, The USD/JPY long-term trend is bearish and the down trend may reach 103.100, and yes the reason for the prediction is the bearish momentum and the price is approaching the oversold region. The market may likely rise. What are you having ?
NeoThabo
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@Hosi-Khulu, I was looking the a bearish trend 104.469 but it is likely to reach the 103 mark.