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Day: May 16, 2019

20 posts
USD/JPY Target Level: 109.9660

USD/JPY Target Level: 109.9660

Rising Wedge identified at 16-May-2019 22:00 UTC. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 109.9660 within the next 11 hours. Supported by Upward sloping Moving Average Chart 15 MinutesPattern Rising WedgeLength 125 CandlesIdentified 16-May-2019 22:00 UTC
Effective Trendline Navigation

Effective Trendline Navigation

As with virtually any trading scenario, we must first determine the direction that we need to trade the pair for the greatest likelihood of success. By looking at the historical 4 hour chart of the GBPUSD below, there are several reasons we know that we want to go long (buy) the pair. Price action is…