Cabana Capitals Blog Technical Analysis bearish technical pattern on USDJPY 4 hour

bearish technical pattern on USDJPY 4 hour

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USDJPY has broken through a support line of a Channel Up chart pattern. If this breakout holds true, we may see the price of USDJPY testing 155.4309 within the next 2 days. But don’t be so quick to trade, it has tested this line in the past, so you should confirm the breakout before taking any action.

Supported by RSI above 60

Target: 155.4309 Entry: 155.9218 Stop: 157.075

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