USD/JPY Develops A Continuation Pattern!
Login

USD/JPY Develops A Continuation Pattern!

Estimated Reading Time: 1 minute
Article Rating:
Based on 1 vote
Login to rate this article.

Olimpiu Tuns

Updated:


USD/JPY decreased a little after reaching the 110.83 level. Now it moves sideways within a potential continuation pattern.

The pair decreased a little as the USDX and JP225 slipped lower. Still, further growth registered by these two indexes may bring a new momentum.

Better than expected US data reported later today could boost the pair. Moreover, the Yen could depreciate further as the Nikkei could resume its growth.

USD/JPY H1 Chart Analysis!

USD/JPY is trapped within a triangle, so we have to wait for a valid breakout before taking action. The false breakouts above the minor downtrend line signal high selling pressure around this line.

Personally, I still believe that a new higher high could bring a bullish signal. USD/JPY could come back down to retest the S1 (110.42) before flying higher.

Conclusion!

An upside valid breakout from this pattern may signal that USD/JPY could approach at least 110.96 high.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News