USDJPY Setup to Breakout from 1 Month Daily Channel

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
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.
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.
Trade closed: stop reached


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out