USDJPY’s bounced from 104.18 to as high as 107.05. As long as the price is below the falling trend line on the daily chart, the bounce could be treated as consolidation for the downtrend from 111.71.
USDJPY’s bounced from 104.18 to as high as 107.05. As long as the price is below the falling trend line on the daily chart, the bounce could be treated as consolidation for the downtrend from 111.71.
Another fall towards 103.00 could be expected after the consolidation.
Only a break above the trend line resistance could signal completion of the downtrend.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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