USDJPY Inverted roof for trend continuation

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The USDJPY has surged after NFP and Unemployment results on Friday and currently it is in a range/uptrend. The lack of any bullish zig zag has been compensated with an Inverted Roof pattern which suggests a trend continuation. Price began to climb after point A and it has been retracing till potential point B which makes a confluence at POC zone (61.8, L3, historical buyers). There is a possibility that inverted roof turns into a complex inverted Head and Shoulders pattern where point B will

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