? USD/JPY Continues with Bullish Momentum after False Breakout ?

3 min read

Hi traders,

The USD/JPY tried to break below the support trend line (green) of the uptrend channel but ultimately failed and the uptrend is back into play. The bulls could be aiming at the Fibonacci targets at 113.75 or 115.

USD/JPY

4 hour


The USD/JPY ultimately moved back into the uptrend channel and is now already reaching the top and resistance spots of the channel due to the strong bullish momentum. The channel top and 161.8% Fibonacci level could be the next decision zone.

1 hour


Both the ecs.CAMMACD and ecs.SWAT systems managed to grab nice +50 and +65 pips on the USD/JPY longs via the ecs.LIVE channel. Write us at info@elitecurrensea.com to get a very special discount by starting an account with our partner brokers. The USD/JPY seems to have completed an ABC (green) correction within the wave 4 (blue). Price broke above the resistance trend lines (dotted orange) and continued with the uptrend. The strong momentum indicates that a shallow retracement could indicate a bullish continuation.

Good trading,
Chris Svorcik
Elite CurrenSea

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