UsdJpy- Major false break to announce 105?
Last week UsdJpy broke both horizontal resistance of 110 and trend line resistance of a symmetrical triangle that took 5 years to form.
Instead of continuation, the pair fell like a stone and is trading now at 108.75.
We now have the confirmation of a false break.
Confluence support sits around 108.50 and a break here looks imminent.
Once we have a break here the pair could fall fast and hard towards 105 figure and even to 100 in the long run.
Looking to sell
Instead of continuation, the pair fell like a stone and is trading now at 108.75.
We now have the confirmation of a false break.
Confluence support sits around 108.50 and a break here looks imminent.
Once we have a break here the pair could fall fast and hard towards 105 figure and even to 100 in the long run.
Looking to sell
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