With the US Dollar now on the move, some forex pairs are forming trends and one of them
is the USDJPY, which recently broke out from long-term consolidation.
Price started to consolidate in June 2015 and broke above resistance in April 2022.
There was a nice move up, and then a pullback, then price continued to move back to the upside.
Since breaking out, price has moved up 9%. This forex pair has trended really well in the
past and is likely to do the same going forward now that we have a breakout.
The current trend appears linear and clean, and if we continue to see a pattern of higher highs
and higher lows with small pullbacks, that will confirm a linear trend is in play.
If today’s bar closes with a break and close above the previous high, it will confirm a trend continuation.
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See below for more information on our trading techniques.
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is the USDJPY, which recently broke out from long-term consolidation.
Price started to consolidate in June 2015 and broke above resistance in April 2022.
There was a nice move up, and then a pullback, then price continued to move back to the upside.
Since breaking out, price has moved up 9%. This forex pair has trended really well in the
past and is likely to do the same going forward now that we have a breakout.
The current trend appears linear and clean, and if we continue to see a pattern of higher highs
and higher lows with small pullbacks, that will confirm a linear trend is in play.
If today’s bar closes with a break and close above the previous high, it will confirm a trend continuation.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
