Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
Market analysis – November 17
USDJPY reveals signs of a potential reversal as it respects the 152.000 supply level. The bullish momentum is weakening as the price forms a bearish reversal pattern.
USDJPY Key Levels
Demand Levels: 145.100, 141.900, 138.400
Supply Levels: 148.600, 152.000, 154.000
USDJPY Long-Term Trend: Bearish
The market experienced a bullish break of structure as the price surpassed the 145.100 region, indicating strong upward momentum. However, this momentum waned as the price failed to breach the 152.000 supply level.
Furthermore, as the trend continued to rise, it formed a rising wedge pattern, which is typically a bearish reversal pattern, suggesting that the bullish momentum may be coming to an end. The formation of a double-top pattern near the 152.000 level further supports the potential for a bearish reversal.
These technical signs point to a possible trend reversal, with the price dropping sharply as it respects the 152.000 level. The Moving Average also confirms bearish price action, with the price trading below the moving average.
USDJPY Short-Term Trend: Bearish
The price action is currently bearish, with a break out from the rising wedge pattern indicating a downward trend. The breach of the trend line supports the higher time frame bias towards the bearish side. It is expected that the breakout will retest the trend line before the bearish move continues.
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
