empty
 
 
19.10.2021 09:43 PM
USD/JPY continuation Pattern

USD/JPY decreased a little in the short term but the retreat seems to be over. Technically, the bias is still bullish, so the currency pair could resume its upside journey. The price action developed a continuation formation.

Validating this pattern could also bring new long opportunities. USD/JPY is bullish right now as the DXY rebounded helping the greenback to appreciate, while the JP225 (Nikkei) continues to grow, weakening the yen.

The US Building Permits and the Housing Starts have come in worse than expected. Tomorrow, the Japanese Trade Balance will be released and it is expected to drop further from -0.27T to -0.59T which could be bad for the JPY.

USD/JPY flag formation

This image is no longer relevant

USD/JPY has found resistance at the ascending channel's upside line. Its false breakout signaled a temporary decline. It has failed to approach and reach 113.80 former high announcing strong buyers.

Now it has jumped above the immediate downtrend line. Confirming its breakout could bring new long opportunities. Personally, I'll wait for the pair to test and retest the broken flag's resistance.

USD/JPY outlook

USD/JPY could climb higher towards the up channel's resistance if it validates its breakout from the minor flag continuation pattern. The high of 114.46 stands as a static resistance. Making a valid breakout through this level could activate further growth towards the 115.00 psychological level.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $9000 lebih banyak!
    Pada Mei kami mengundi $9000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback