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josephdahrieh
Oct 8, 2020 9:35 AM

USDJPY Trading near Cricital Level Short

U.S. Dollar/Japanese YenFXCM

Description

the Weakness in the Dollar index might continue in the near term, after Donald Trump refused to start the stimulus program we saw a bounce in the DXY index.
after that a weakness started to show which put pressure on the USDCAD and retraced down from 1.3340 to 1.3240.
however the USDJPY is still holding. reaching a 4 month trend line pressure we might expect some rejection at the moment from current levels to finish a 5 wave pattern
in a falling wedge triangular setup.
missing leg might target 104.00 level.
Comments
ShaibuIbrahim
This wave C is carving out an ending diagonal. Upon completion, we get ready to ride the bullish wave 1
ShaibuIbrahim
Good job. Very coherent and lucid.
Overkilla
Let's see if it starts to go down
InkyGrip
Great techincal set up! 🦐👍🏻
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