〽️ USD/JPY Bearish Reversal at Resistance Line 〽️

2 min read

Hi traders,

the USD/JPY made a bearish bounce at the resistance trend line (red) as expected. The bearish price action however could be part of a wave 2 (purple).

USD/JPY

4 hour

The USD/JPY will test the Fibonacci levels of wave 2vs1, which could act as a potential support zone for a bullish bounce. A bearish break however below the 100% Fibonacci level invalidates the wave 2 pattern.1

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.

Good trading,
Chris Svorcik
Elite CurrenSea

3 Months of Free Signals

Trade with XM via ECS to Get Signals, SWAT & Up to 50% Discounts.

Learn How to Apply

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X