Will USDJPY MONTHLY CHART FOLLOW THIS CORRECTION PATTERN SHOWN ON DAILY TIME FRAME?


The USDJPY is a bullish market but has been in a range for months. This USDCHF depicts the behavior of monthly USDJPY chart. The buy signal occurs when price finally retest 200 third times confirmed by price reaching the lower band and Stochastic 10 and 40 giving continuation signal at level below 20 and 40 respectively. The MACD peak also clearly formed. The Trendline was formed and there was false breakout because BMB has not crossed and it was corrected which led to retest of 200 SMA as final support and at this point, BMB was to cross the Trendline to confirm buy signal, see double bottom of stochastic and MACD. It was this support from 200 that gave price momentum to break the Trendline and form strong bullish market. Click to continue reading and drop your comment.Will USDJPY MONTHLY CHART FOLLOW THIS CORRECTION PATTERN SHOWN ON DAILY TIME FRAME

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