USDJPY is trading in short term Ascending Channel pattern within the long term Descending channel pattern. according to chart pattern analysis we might see USDJPY trading in Ascending Channel pattern for while and then breakout from pattern towards the down trendline resistance level as shown in chart.
Trade with stop loss and own capital risk management...
GBPJPY is forming a trend change. On the hourly chart I have marked a downward price channel. The key area at the moment is the level of 165.54, to which the price is streaming in the distribution phase.
The fundamental policy changes, which to some extent allow the strengthening of the Japanese Yen, and we see the change of the trend. The potential for a move...
Price is approaching our first resistance, in line with our horizontal swing high resistance, 76.4% fibonacci retracement, where we could see a further drop to our first support target. Stochastics is showing signs of bearish pressure in line with our bearish bias.
