At highs of wedge pattern | 19 Diciembre 2013

19 Diciembre 2013, USD/JPY

The pair has moved higher, rapidly rising after the FOMC meeting. It breached the 103.15 level confirming an upside break and moved up towards the upper border of the rising wedge pattern which has been forming since the 3rd of December, making highs of 104.35. There is a possibility the pair could fall back down now towards the lower border of the wedge at 103.10. A break below 103.80 might signal such a move. However the wedge is composed of 5 waves indicating it may be complete and so a rise above the 104.35 highs would provide a convincing up-side breakout sign and lead to a probable move to the next target at 105.87, as well as generating a very high count from the long column of X's yesterday, targeting 107.80.

At highs of wedge pattern

Mark Satcher
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.