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

USDJPY stays in a falling price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 20, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays in a falling price channel on 4-hour chart, and remains in downtrend from 85.51. Key resistance is located at 83.09, as long as this level holds, downtrend could be expected to continue, and next target would be at 81.50 area. However, a break above 83.09 will indicate that a cycle bottom has been formed, and the fall from 85.51 has completed at 82.18 already, then the following upward move could bring price back to 83.45 zone.


    Forex Signals

Share This Page