As always, I love price breakouts and using Fib levels to understand where the market should head to next. If we can see USDJPY break above this downward trendline, (which will then become support) and if we can see a little price action remaining above it, we should look at this continuation of the ABCD pattern.
However, we have to be aware of this new downward pattern. will it hold and push USDJPY further down, or will the price break above this trend line and continue its upward climb? That's what we will see in the next couple of hours.
However, we have to be aware of this new downward pattern. will it hold and push USDJPY further down, or will the price break above this trend line and continue its upward climb? That's what we will see in the next couple of hours.