? USD/JPY Builds Bearish Channel after Breaking Rising Wedge ?
June 8, 2018
2 min read
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Hi traders,
The USD/JPY broke below yesterday’s rising wedge reversal chart pattern and is now building a bearish channel.
USD/JPY
4 hour
The bearish correction could be part of a larger WXY (purple) correction. The Fibonacci levels of wave X (purple) could therefore act as potential support levels for a bullish bounce.
1 hour
The USD/JPY is building a correction within the wave X (purple). Price seems to have completed a bearish ABC and price is now testing the resistance trend line of the bearish channel.
Good trading,
Chris Svorcik
Elite CurrenSea
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