USDJPY in a symmetrical triangle

By Biznes-Broker | Analysis of the financial markets | 18 Jan 2021

I do not know all data forecasts for this week yet, but you can already see that many currencies with the dollar have stopped or are in the correction phase.

USDJPY has formed a triangle that can be seen easily from the time intervals H1 and H4. It is important because the formation was formed in the descending wedge which we marked on the D1 interval. A clear breakthrough of both patterns may provide a positive impulse for the currency pair's increases. Exiting the pattern from the bottom will be a continuation of declines. Recommended entry, not earlier than after breaking the formation and retesting to local support or resistance.

USDJPY H1

USDJPY D1

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Biznes-Broker

Trader, cryptocurrency and forex market analyst. Editor of investor magazines: EN: http://biznes-broker.com/ PL: http://pvq.pl/ By giving me a tip you donate it to charity. All collected funds will help children and animals in need.

Analysis of the financial markets

Subjective view of the financial market. Mainly Forex, Indexes and Commodities. Analyzes based on technical analyzes. All analyzes are my view of the market. It is not recommended to make trading decisions based on the information provided. You can check my work here: EN: http://biznes-broker.com/ PL: http://pvq.pl/