What happened? Japanese shares fell on Monday…
USD/JPY: yen wants to come back
2019-11-11 • Updated
On the daily chart, USD/JPY bulls are trying to return the pair inside the triangle. If they manage to do it, successful test of resistance at 110.52 will strengthen the risks of correction towards the upper border of the downtrend channel. On the other hand, if bulls fail, bears will be able to keep pulling the pair down to 108 and then 104 (161.8% target of AB=CD).
On H1, the pair left the descending trend channel and is now testing resistance at 109.62. A successful test will strengthen the odds of 88.6% target of “Shark” pattern.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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