Hello traders, in the USD/JPY daily chart, we can see the formation of a
massive ascending triangle. The upper end of the triangle is at 152 level,
which if broken could lead to a massive leg up.
At this point, I would recommend traders to avoid placing short entries.
In fact, the plan would be to see how price behaves at the 152 level.
If there is a breakout, we would need to wait for a retest and then buy.
massive ascending triangle. The upper end of the triangle is at 152 level,
which if broken could lead to a massive leg up.
At this point, I would recommend traders to avoid placing short entries.
In fact, the plan would be to see how price behaves at the 152 level.
If there is a breakout, we would need to wait for a retest and then buy.
註釋
The retail clients are massively short on USDJPY which indicates that price can continue to move up as the market usually moves opposite to what retail does註釋
Price has moved up 20 Pips Since I made the post註釋
A lot depends on how Bank of Japan handles the Yen now, so keep an eye on the news tok註釋
USDJPY has broken the 152 level as mentioned 2 days ago註釋
Price has moved up by nearly 280 pips , moving exactly as predicted
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