MVedra
Long

USDJPY Setup to Breakout from 1 Month Daily Channel

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
19 views
2
19 0
The 1 month channel (looking from 2 hr bars) shows a declining range. However, price failed to break below 111.50, actually bouncing off 115.70 to forma moderately higher low, an initially bullish indication.

Now with price consolidating around 114, demand appears to be building towards a break up.
Mar 14
Comment: Correct call- breakout occurred, for a 1% rally. Next level to watch is 115.5. I anticipate a break through this would mark a considerable move higher.
Mar 21
Trade closed: stop reached
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 Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out