logo

FX.co ★ USD/JPY analysis for November 06, 2018

USD/JPY analysis for November 06, 2018

USD/JPY analysis for November 06, 2018

Recently, the USD/JPY pair has been trading upwards. The price tested the level of 113.44. Anyway, according to the H1 time – frame, I have found the fake breakout of the resistance at 113.37, which is a sign that buyers got trapped. I have also found broken upward trendline, which is a sign that sellers are in control. My advice is to watch for selling opportunities. The downward target is set at the price of 112.60.This bearish idea will be invalid if the price breaks the level of 113.45.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account