USD/JPY Bullish Momentum Approaches Resistance At Daily Channel

Discussion in 'Technical Analysis' started by Kaitlin, Sep 1, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    The USD/JPY is approaching strong resistance (red) at the top of the daily downtrend channel, which could either cause a larger retracement or a sideways pattern like a bull flag chart pattern. A bullish break above it could start a larger bullish reversal (wave 1 purple).[​IMG]

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