Thursday, June 21, 2018 5:19 AM EDT
USD/JPY
4 hour
The USD/JPY is approaching a key resistance trend line (red), which is a critical bounce or break zone. A bullish breakout above the trend line would invalidate the current expected bearish ABC pattern whereas a bounce could see price complete a wave X (pink) at a lower low.
1 hour
The USD/JPY is also testing the 78.6% Fibonacci resistance level and the top of the bullish channel (orange), besides the resistance trend line (red). These factors make this price zone a key area.
Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit ...
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Disclaimer: The opinions in this article are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the stocks mentioned or to solicit transactions or clients. Past performance of the companies discussed may not continue and the companies may not achieve the earnings growth as predicted. The information in this document is believed to be accurate, but under no circumstances should a person act upon the information contained within. We do not recommend that anyone act upon any investment information without first consulting an investment advisor as to the suitability of such investments for his specific situation.
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