2021-03-03 10:17:40
#MarketBreakdown
Structure Trading Ӏ USDJPY
Daily
USDJPY is approaching a strong
horizontal resistance level.
From the beginning of this year, the price is trading in a
bullish trend and steadily growing within a
rising parallel channel.
Now the price approaches its
resistance.
Analysing the last three swings, we may notice a completed
harmonic movement.
It's completion point matches with a horizontal and vertical resistance.
4H
On 4h the market remains bullish though.
It is growing sharply within a
rising wedge pattern.
To sell wisely, wait for a bearish
breakout of the support of the wage.
It will trigger a strong bearish reaction and the price will most likely drop.
Your first goal will be 106.25 local support
In case of a
bullish breakout of the horizontal daily resistance, the market will continue growing.
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