USD/JPY Tests 78.6% Fib and Trend Line Resistance

Birželis 21, 2018 10:55


4 hour

The USD/JPY is approaching a key resistance trend line (red), which is a critical bounce or break zone. A bullish breakout above the trend line would invalidate the current expected bearish ABC pattern whereas a bounce could see price complete a wave X (pink) at a lower low.

1 hour

The USD/JPY is also testing the 78.6% Fibonacci resistance level and the top of the bullish channel (orange), besides the resistance trend line (red). These factors make this price zone a key area.

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