BULLISH USDJPY 15 Min: Bear channel broken; Buy support
Nov 17 2015: BULLISH USDJPY 15 Min: Bear channel broken; Buy support
(Analysis Based on 15 Min chart)
Observations
1. The bear channel has been broken buy
2. RSI overbought
NOTE: Wait for price action to confirm the importance of these levels. Down trend has been broken and price is moving up. I expect a correction soon. Prepare to sell buyer failure down to the support level. Buy support if price reacts at that level.
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(Analysis Based on 15 Min chart)
Observations
1. The bear channel has been broken buy
2. RSI overbought
NOTE: Wait for price action to confirm the importance of these levels. Down trend has been broken and price is moving up. I expect a correction soon. Prepare to sell buyer failure down to the support level. Buy support if price reacts at that level.
If you find this information useful. Please hit the LIKE button.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
