scaige96

USD/JPY short term recovery

FX:USDJPY   U.S. Dollar / Japanese Yen
As we can see, price has strongly broken the weekly trendline but attempts to break below the monthly trendline last week failed, as there was a rapid recovery which pushed price back inside the trendline/support area.

Because sellers who entered positions early on are likely to close in on their profits, we should expect selling pressures to slow down in the coming days with a potential pullback to the resistance zone before we can expect further selling
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out