Receive the latest alerts via email

Trade of the Day: USD/JPY

By: Dima Chernovolov USD/JPY continues to rise inside the 4-hour Falling Wedge chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Falling Wedge at the 6-bar level – which is the result of the medium Initial Trend (5 bars), lower Uniformity (4 bars) and near-maximum Clarity (9 bars). USD/JPY is…
Trade of the Day: USD/JPY

By: Dima Chernovolov

USD/JPY continues to rise inside the 4-hour Falling Wedge chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Falling Wedge at the 6-bar level – which is the result of the medium Initial Trend (5 bars), lower Uniformity (4 bars) and near-maximum Clarity (9 bars). USD/JPY is expected to rise further inside this Falling Wedge – in line with the earlier upward reversal from the support area highlighted below.

As can be seen from the daily USD/JPY chart below, the price earlier reversed up from the support area lying between the key support level 109.15 (which also reversed the price at the start of May), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from January. The proximity of this support area and the oversold daily Stochastic increase the probability USD/JPY will continue to rise inside this Falling Wedge.

Total
0
Shares
Previous Post
CAD/JPY Target Level: 81.1260

CAD/JPY Target Level: 81.1260

Next Post

After testing the support line numerous times, Caterpillar Inc. is once again approaching this line. Can we expect a bearish trend to follow?

ARTÍCULOS RELACIONADOS
Trade of the Day:  GBP/CAD

Trade of the Day: GBP/CAD

GBP/CAD recently broke the key 30-minute resistance level 1.6152, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 3-bar level – which is the result of the three previous reversals from this price level. GBP/CAD is expected to rise further toward the forecast price 1.6258. As can be…
Read More
Trade of the Day:  EUR/CAD

Trade of the Day: EUR/CAD

EUR/CAD continues to fall toward the key support level 1.4491, which was previously identified by Autochartist. Autochartist rates the Significance of this support level at the 5-bar level – which is the result of the five previous reversals from this price level. EUR/CAD is expected to continue to fall toward the support level 1.4491. As…
Read More