AvaTrade - Analytics


    240.25 8.75/10
    100% of positive reviews

    USD/JPY- Symmetrical triangle formed, will you trade?

    The USD/JPY pair is trading in a symmetrical triangle pattern on a 60 minute time frame. These patterns are usually on the bottom when its comes to fulfilling their projections. However, they do usually break in the direction of the trend and from a bigger time frame we do know that the trend is towards the upside. Therefore, if it odes breaks towards the upside, it could easily break the resistance level which is mentioned below. The price is trading is trading below the 50 day ( shown in yellow) and the 100 day ( shown in red) moving average which means that the downward trend is picking up steam within this time time frame.

    The MACD and the RSI is trading in line with the price action which means that the current downward trend could continue.

    Screen Shot 2015-02-19 at 09.52.36

    Important Zones

    120.46- 20.22 Resistance

    117.27-116.97 Support

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree