FX.co ★ bridget.franecki | TST as the Foundation for Medium-term Trading

Here, by the way, is a similar situation on USD/JPY, just on a smaller scale, when we broke below the trendline and after its retest, continued lower. The classic pattern played out and in this case, reality implies a continuation of the downtrend according to the red scenario. Considering that for the second day in a row we do not see the mandatory zone on the levels, there is a possibility of breaking upwards following the blue scenario and achieving the expected outcome. Most probably anticipate the classic scenario. Although I am waiting for an upward movement, I do not see a clear entry point, so I am currently on the sidelines.