? USD/JPY Bounces Again at Uptrend Channel Support Line ?

2 min read

Hi traders,

The USD/JPY made a deep bearish retracement back to the bottom of the uptrend channel. Price will now need to bounce or break at the support trend line (green).

USD/JPY

4 hour


The USD/JPY reaction at the decision zone will indicate whether price can continue higher within the uptrend channel or whether a larger reversal could take place.

1 hour


The USD/JPY seems to have completed a bearish ABC (orange) correction within wave 4 (green) at the 50% Fibonacci retracement level. Price bounced at the support trend line (green) and is now challenging a critical resistance trend line (red).

Good trading,
Chris Svorcik
Elite CurrenSea

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