-
USDJPY Finally on Its Way to 101.00?
The USDJPY broke a significant pattern at the end of July. Significant is probably an understatement. I’ve discussed this monthly wedge pattern since May, maybe earlier. Notice how USDJPY has held below the 106.00 area on a monthly closing basis since July. I’ve liked the idea of a lower USDJPY since then. However, the tricky part was timing a short entry. While you could’ve looked for entries at swing highs, an alternative was to watch for a breakdown of the March trend line. I mentioned this idea on September 7th. As you can see from the daily chart below, USDJPY is about to break the March trend line. Just ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Sep 16, 2020 5:17pm Sep 16, 2020 5:17pm
- herewardwake
- | Joined Mar 2020 | Status: Member | 189 Comments
- Comment #2
- Quote
- Sep 16, 2020 6:28pm Sep 16, 2020 6:28pm
- mngnglkl
- | Joined Mar 2018 | Status: Member | 34 Comments | Online Now
Fortune favors the brave.
- Comment #3
- Quote
- Sep 16, 2020 7:49pm Sep 16, 2020 7:49pm
- herewardwake
- | Joined Mar 2020 | Status: Member | 189 Comments
- Comment #4
- Quote
- Sep 16, 2020 8:24pm Sep 16, 2020 8:24pm
- Guest
- | IP XXX.XX.205.108