PetarJacimovic

Pitchfork Channel breakout, watch for selling USD/JPY

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
I found a breakout of smaller Pitchfork channel inside the bigger one, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at 112.50 (median line) and at the price of 112.00 (lower diagonal).

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.