USD/JPY Making a Bullish N Pattern Through Chuvashov Fork

January 26, 2018

By Admiral Markets

Source: Admiral Markets MT5

The USD/JPY has made a strong push after US President Trump’s comments regarding the strong dollar. At this point we can see the USD/JPY making a possible N bullish pattern through the Chuvashov Fork targeting 109.72 and 110.05. MACD is above zero supporting the bullish move. If we see profit taking today, the USD/JPY should remain bullish.

D H3 – Daily Camarilla (Strong Daily Resistance)

D H4 – Daily Camarilla (Very Strong Daily Resistance)

D H5 – Daily Camarilla (Strongest Daily Resistance)

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D L3 – Daily Camarilla (Daily Support)

D L4 – Daily Camarilla (Very Strong Daily Support)

D H5 – Daily Camarilla (Strongest Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

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Article by Admiral Markets

Source: USD/JPY Making a Bullish N Pattern Through Chuvashov Fork

Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

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