This is not Instagram kids trading for 5 mints time frame, this is for people who want to hold for gold.
It will take months of holding but JPY has to go up and hit 1st target and if its break it then set a target2 as goal
My recommendation is to place 2 orders one should be closed at 1st target and the 2nd one is at 2nd target.
As the title suggests - we have a large (light blue) bullish falling wedge with break out. As we have broken out we should expect to retest previous resistance as new support. This will help form the bullish ascending triangle in yellow and also converge with the .236 fib level as added support. We also have the green inverse head and shoulders.
My entry:...
USDJPY has formed a symmetrical triangle which may lead to a bullish breakout. Other chart patterns present include a successful descending scallop, which led to a large bullrun.
JPYUSD ready for swing long , target and stop as mentioned in the charts.
Good opportunity for traders to take long and hold for few trading session.
All the best !!
