USD/JPY – Week 18 – Consolidation started.
Last week, we correctly anticipated that USDJPY will break the trendline and start a bullish move that will act as a correction for the previous drop.
Next week, we expect the price to correct towards the support level before resuming the bullish momentum in order to complete the consolidation pattern. Our first target will be the resistance level.
Keep an eye on Friday’s NFP & unemployment rate data as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Next week, we expect the price to correct towards the support level before resuming the bullish momentum in order to complete the consolidation pattern. Our first target will be the resistance level.
Keep an eye on Friday’s NFP & unemployment rate data as it may impact the pair.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.