Thank you for signing up.

Get $30 sign-up bonus when you join Z.com, no deposit required

Market insight

Sign up now

USD/JPY update (20th April 2017, 11:00)

USD/JPY awaiting triangle breakout.

USD/JPY awaiting triangle breakout.

USD/JPY is trading within the middle of a symmetrical triangle formation off that back of its recent downtrend. Given that wider sell-off, the expectation is that we will break lower from this formation. However, we can take our lead from the breakout for greater confidence, with an hourly close above ¥109.18 pointing towards a period of short-term strength.

Conversely, an hourly close below ¥108.32 would likely spark the next leg lower for the pair. Alternately, short positions look interesting from near trendline resistance as a play on the continuation of this pattern. 


Share this with your friends

To:
From:
Your comments:

USD/JPY update (20th April 2017, 11:00)

USD/JPY awaiting triangle breakout.

Read more »

You have unread messages

You have unread messages