Chart Prepared by Jamie Saettele, CMT
USDJPY breakout from the 6 month loop would open up 123.16-124.13 (high close from June 2007 and 2007 high). A deliberate target from the example yields 125.72 and 128.12."
- "USDJPY wound up exchanging to 125.85 (the specified 125.72 was the December extent x .618 + the December high… fundamentally a Fibonacci range extension). Disappointment at long haul uptrend resistance demonstrates potential for an imperative top to frame. As I write, there are 2 days left in June and USDJPY is minimal changed for the (month open is 124.10). At the end of the day, a month to month doji could shape… at a 20 year trendline (previous bolster… may give resistance now)!"- "June's exchange delivered a month to month key inversion in USDJPY." USDJPY has snapped back yet a break over the long haul resistance intercection (uptrend resistance and the line from the 1995 and 2005 highs) iis still needed in order to minimize downside risk.
This EA is a Multi-Timeframe, Multi-Symbol robot which plays Donchian Channel breakouts.
