USDJPY - In for a short term correction

Dollar is loosing steam this week after the huge push up we've seen recently,

Here we can see an ascending pennant, a textbook favorite, that is breaking down with a strong H2 engulfing making it look like it could go back to support

It's a counter trend trade, so we have to be carefull, and expect less

The ascending pennant is a reversal pattern when it breaks, so, price might want to go get some suport, in this case, it could be :
- A fib level
- the longer term trendline (the green one)
- the 135.00 psychological level

Let's see what the market will do with my coins!!

Cheers everyone and trade safe!!!

Kommentera:

2nd entry at pennant pullback, deep in profit right now

Kommentera:

Just creamed some profit, and let the rest go risk free, another one!!!