Open:
High:
Low:
Close:
DESCENDING TRIANGLE
USD/JPY
1H
It seems like a descending triangle is spotted.
A descending triangle signals the bulls have run out of steam in case if price breaks out.
Usdjpy to push down towards 162.2 on a downside break.
PENNANT
USD/JPY
1H
A pennant is almost done, usdjpy needs a further move as a verification of a breakdown.
A pennant is a compelling chart formation that is used to identify a next move down once price breakdown occurs.
It is not ruled out that a rangebound to the 162.2 zone will form on a breakout of the pennant as the currency pair nears 162.3 hurdle.
PENNANT
USD/JPY
1H
As we can see a pennant takes place and the price requests a more strong move as proof of a breakout.
A pennant provides a reliable chart formation that predicts a sharp rise if price breaks out to the the upside.
There is a chance of a move towards the 162.5 zone on a breach of 162.4.
ASCENDING TRIANGLE
USD/JPY
4H
An ascending triangle occurs, the price is close to breaking out.
An ascending triangle tends to be a reliable bearish signal that indicates a next move down once price collapses through the support line.
A bearish run towards the 162 zone is likely on a breach of 162.3.
ASCENDING CHANNEL
USD/JPY
1H
An ascending channel occurs, usdjpy wants further bigger fall for the certainty of breakdown.
An ascending channel depicts a reliable indicator that is used to predict that the price to go down in case if price breaks through the support.
Usdjpy could recede to 162.4.
RISING WEDGE
USD/JPY
1H
It seems like a rising wedge has been revealed, the price is close to breaking out.
A rising wedge often results in a move down in case if price breaks down.
Usdjpy to extend the fall towards the 162.4 mark on impulse below 162.55.
BULLISH RECTANGLE
USD/JPY
1H
It looks like a bullish rectangle has been exposed, usdjpy wants a steady move to confirm bullish rectangle breakout.
A bullish rectangle identifies a bullish move when price breaks out to the the upside.
It is not ruled out that a move to the 162.6 level will form on a breakout of the bullish rectangle as downside pressure alleviates.
FALLING WEDGE
USD/JPY
1H
A falling wedge is spotted.
A falling wedge typically predicts a further move up if price breaks out.
It is possible that a bullish continuation to the 162 level will be made.
ASCENDING CHANNEL
USD/JPY
1H
It looks like an ascending channel materializes.
An ascending channel is said to depict a compelling price action formation that is used to spot a next move down in case if price breaks below support.
Usdjpy could attempt a move to 161.8 while lower than 161.95 as usdjpy nears 161.95 hurdle.
Disclaimer.
No Investment Advice Provided.
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Risk Disclosure.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.