Descending Broadening Wedge pattern on USDJPY
Disclaimer on,
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
The
USDJPY
currency pair is seen forming a Descending Broadening Wedge pattern on the H4 time frame. This pattern is a bullish pattern which in this case becomes a bullish reversal pattern, after previously experiencing a deep decline.
The increase in this currency pair has the opportunity to strengthen to the level of 114,820 which coincides with the classic resistance area and also the 1.618 Fibonacci Retracement ratio.
This is a personal opinion, I am not responsible on your trading results.
Trade with your own risk.
The
USDJPY
currency pair is seen forming a Descending Broadening Wedge pattern on the H4 time frame. This pattern is a bullish pattern which in this case becomes a bullish reversal pattern, after previously experiencing a deep decline. The increase in this currency pair has the opportunity to strengthen to the level of 114,820 which coincides with the classic resistance area and also the 1.618 Fibonacci Retracement ratio.