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FX.co ★ USDJPY M5: Bullish Rectangle

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Technical Analysis Patterns

2020-11-24T13:52:49
Signal strength 1 of 5

USDJPY M5: Bullish Rectangle

Bullish RectangleAccording to the chart of M5, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 104.60 and support 104.52. In case the resistance level 104.60 - 104.60 is broken, the instrument is likely to follow the bullish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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