Cabana Capitals Blog Technical Analysis Possible breach of resistance level by USDJPY

Possible breach of resistance level by USDJPY

March 22, 2024March 22, 2024| cabana-admincabana-admin| 0 Comment| 11:13 am
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Emerging Ascending Triangle pattern in its final wave was identified on the USDJPY 1 hour chart. After a strong bullish run, we find USDJPY heading towards the upper triangle line with a possible resistance at 151.8883. If the resistance shows to hold, the Ascending Triangle pattern suggests a rebound back towards current levels.

Supported by Upward sloping Moving Average

Target: 151.8883 Entry: 151.65 Stop: 151.303

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