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USD/JPY Bearish Break of Triangle Pattern Aims at 108.75

June 25, 2018 08:41


4 hour

The USD/JPY remains in a triangle chart pattern for the moment. A break below the support trend line (blue) could indicate a deeper correction within wave X (purple) whereas a break above the resistance trend line could end of wave X and start a bullish correction of wave D (purple).

1 hour

The USD/JPY is building a consolidation pattern around the support trend line (blue) which is a key bounce or break spot. A bearish breakout seems more likely at the moment due to the bearish structure of the price patterns and could signal a continuation towards the Fibonacci targets on this chart.

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.