USD/JPY – Week 48 – Riding the bear.
Hello everyone,
As you can see, the price strongly broke the ascending channel which increases the chances that the pair will start a medium-term bearish move that will act as a retracement for the current bullish wave.
For this week, we expect a correction at the market open towards the liquidity area highlighted on the chart before resuming the bearish trend and reaching the bottom support area.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
As you can see, the price strongly broke the ascending channel which increases the chances that the pair will start a medium-term bearish move that will act as a retracement for the current bullish wave.
For this week, we expect a correction at the market open towards the liquidity area highlighted on the chart before resuming the bearish trend and reaching the bottom support area.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
