USDJPY in a downwards channel creating lower lows and broke past support now acting as resistance.
Indicators:
1. Downwards channel
2. Downtrend line holding as resistance.
3. Past support broken now acting as resistance (red line).
Entry @ current price of 105.95
Entry @ 106.20 area (bounce of downtrend line.
TP 1: 105.40 area
TP 2: 104.30 area
Good luck trading! Please help like these free analysis so others can benefit from them.
Let me know how I can help.
Charles V
www.cvfxmanagement.com
Trading made simple.
Indicators:
1. Downwards channel
2. Downtrend line holding as resistance.
3. Past support broken now acting as resistance (red line).
Entry @ current price of 105.95
Entry @ 106.20 area (bounce of downtrend line.
TP 1: 105.40 area
TP 2: 104.30 area
Good luck trading! Please help like these free analysis so others can benefit from them.
Let me know how I can help.
Charles V
www.cvfxmanagement.com
Trading made simple.
Kommentera:
If we have a daily close above of downtrend line, stay out or take small loss. Wait for confirmation of close under downtrend line. False breakout very possible, wait until daily close.