This trade setup on USD/JPY is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 156.4052.
Related Posts
AUD/USD keeps moving closer towards 0.6589. Will it finally breach this level?
AUD/USD is heading towards a line of 0.6589. If this movement continues, the price of AUD/USD could test…
If you’re long USD/JPY you should be aware of the rapidly approaching level of 156.5280
The price of USD/JPY in heading back to the support area. It is possible that it will struggle…
EUR/USD has broken out from the Channel Down pattern. Expect it to hit 1.0732 soon.
EUR/USD has broken through the resistance line which it has tested twice in the past. We have seen…