The pair had a breakout to the downside in the beginning of April. Traded to the nearest obvious support at 1.66877 then bounced off to retest the broken channel where it meets a double resistance represented in the broken channel and the upper monthly wedge. I have a bias to the short side as EUR would be falling ahead to the NZD. A short swing ...
The descending channel was broken 2 days ago with a nice close above the mid BB. A pull back retest is expected to the channel border which can be a good place to go long for new comers.
We can buy it cheap @ 1.057 with 1st target at 1.082 and a 2nd target @ 1.103
Daily swing long setup.
Weekly candle has opened right on the uptrend line that started at January 18. It will probably retest the chart highs. We can open a long position from current price and tp right before chart highs.
TP@ 220 Pips
SL@ 70 Pips Approx.
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It seems USDJPY has entered a new bearish channel started in November 2017. There was a consolidation on the bottom of the current broken triangle. USDJPY was pushed higher to break the downtrend line that was created on January 2018, which is being retested at the moment and getting ready to have a major correction to hit 110.00 before it drops back ...