1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDJPY failed to break above trend line resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 18, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY failed to break above the resistance of the downward trend line on 4-hour chart, and pulled back from 98.64, suggesting that the pair remains in downtrend from 101.53. Further decline would likely be seen, and next target would be at 96.00 area. Key resistance is located at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.


    Provided by ForexCycle.com

Share This Page