Regulator

What happens if I select a regulator?

Admiral Markets UK is regulated by the UK Financial Conduct Authority (FCA): Firm Ref № 595450.

Admiral Markets AS is regulated by the Estonian Financial Supervision Authority (EFSA): License № 4.1-1/46.

Admiral Markets Cyprus Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC): License number 201/13.

Selecting one of these regulators will display the corresponding information across the entire website. If you would like to display information for a different regulator, please select it.

Thank you, got it
fca
efsa
CySEC

USD/JPY Bearish Breakout after Pullback in Downtrend Channel

August 10, 2018 09:08

USD/JPY

4 hour


Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave

The USD/JPY bearish channel is staying within the support and resistance trend lines, which probably makes it a wave C (pink). However, price will need to break below the bottom of wave A (pink) before any bearish continuation can be confirmed. The support trend line is a key decision zone, and offers a spot to trade a bullish bounce or bearish break. A bullish bounce makes an expanded wave B likely, whereas a bearish break confirms the wave C pattern (pink).

1 hour


Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave

The USD/JPY is moving choppily within the downtrend channel, but price could be in a 4th wave (orange) if price manages to stay below the bottom of wave 1 (red line) and the 38.2% Fibonacci retracement level. Price has now broken below the support trend line (dotted green). A break above resistance could indicate that a bearish wave pattern is failing and could start a larger bullish correction.

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.


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.