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 Channel but Price Action Remains Choppy

August 08, 2018 09:46

USD/JPY

4 hour


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

The USD/JPY broke below the support trend line (dotted blue) but the breakout was short as price retraced back to the resistance trend line (red). Overall, price is in a bearish channel at the moment, which seems to be part of a larger bearish ABC (pink) pattern. A break below support confirms the potential wave C (pink) whereas a bullish breakout indicates a deeper wave B (pink).

1 hour


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

The USD/JPY is showing corrective and choppy price action as it's moving lower. This could either be multiple wave 1-2s (orange/green) if price breaks below the channel support (blue), or price is building a bullish correction as part of larger wave B (pink) if price breaks above the channel resistance (red).

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.