USDJPY Price Action Analysis - symmetric triangle pattern to be formed for direction

USDJPY Price Action Analysis - symmetric triangle pattern to be formed for direction

15 October 2015, 06:11
Sergey Golubev
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W1 price is located to be above 200 SMA and above 100 SMA with the ranging market condition within the primary bullish:

  • The price is on ranging between 125.85 resistance and 116,13 support levels.
  • Symmetric triangle price pattern was formed by the price to be crossed direction.
  • 'Reversal' support level is 102.52 located below 100 SMA and near 200 SMA on the border between the primary bearish and the primary bullish area of the chart.
  • 'Reversal' resistance level is 125.85 key resistance located far above 100 SMA/200 SMA in the bullish area of the chart.

Trend:

W1 - ranging bullish
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