GBPJPY Technical AnalysisTechnical AnalysisUSDJPY Technical Analysis

JPY futures overview

JPY futures overview

We are getting requests about JPY pairs.

FOMC minutes will be released. Markets focused on the minutes. Risk of high volatility.  Our view on USDJPY and Dragon is as follows.

USDJPY

Completed head and shoulders. First target 108.240. A bullish Gartley on M30 chart would be completed at 108.240.  Two possible scenarios: 1) Break below 108.240 would carry the price 107.95 and 107.500.  2) Potential bullish reversal at 108.240 to test the flag 108.850.

GBPJPY

Bearish triangle and SHS pattern breakout 138.100 – 138.00 would carry the price 137.630 key support. Break below would carry the price 137.170 and 137.700. Ultimate target 135.800.

Bullish Scenario: Reversal at the 138.100 support and bullish breakout of the triangle at 138.900 – 139.00.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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