Last week USDJPY price reached a key weekly resistance cluster.
Bears started to push and today they managed to violate a rising parallel channel to the downside.
Such a bearish breakout may trigger a strong bearish continuation up to 112.10 Support zone.
USDJPY was trading in a rising wedge as well,but the pair hit a strong horizontal resistance
And after trading below the level the price broke out of the wedge to the downside
After a retest of the broken level and the supply area above we can see a strong bearish move down!
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
Bears started to push and today they managed to violate a rising parallel channel to the downside.
Such a bearish breakout may trigger a strong bearish continuation up to 112.10 Support zone.
USDJPY was trading in a rising wedge as well,but the pair hit a strong horizontal resistance
And after trading below the level the price broke out of the wedge to the downside
After a retest of the broken level and the supply area above we can see a strong bearish move down!
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.