USDJPY Triangle Formation? 03.02.2023
Market News - The most Important release of the month
15:30 Non-Farm Employment Change and Unemployment Rate
Due to the fact that the investors are waiting for the important figures during the afternoon session
we do not expect high volatility now.
There is a triangle formation for this pair. if it breaks then the market will move in one direction either up or down.
Traders have to be careful not to take positions too soon but let the market settle after the announcement.
Otherwise the market might show a false break upwards or downwards.
Stop levels should be 129.2 for the upwards move. If it is a downward move then should be 128.0.
15:30 Non-Farm Employment Change and Unemployment Rate
Due to the fact that the investors are waiting for the important figures during the afternoon session
we do not expect high volatility now.
There is a triangle formation for this pair. if it breaks then the market will move in one direction either up or down.
Traders have to be careful not to take positions too soon but let the market settle after the announcement.
Otherwise the market might show a false break upwards or downwards.
Stop levels should be 129.2 for the upwards move. If it is a downward move then should be 128.0.
Comment:
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