Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…

USD/JPY Bullish Inverted Rooftop Pattern Hints for Further Gains

Nenad Kerkez
USD/JPY Bullish Inverted Rooftop Pattern Hints for Further Gains

Hi traders,

The USD/JPY has made a breakout off the inverted rooftop pattern. Continuation looks like a form of ascending scallop pattern.

The stable rate outlook in the USA, provided some risk-on buying activity after the heavy sell-off from Global Equities towards the end of calendar year 2018.  This is reflected in the USD/JPY pair, and we might see a continuation on bullish price action on intraday charts. 109.35-50 could spur a new wave of buyers should the price drop and retest the level. The First target is 110.10 followed by 110.50 and 110.75. Break below 109.17 and the pair is neutral again.

The analysis has been done with the CAMMACD.MTF template.

Join Elite CurrenSea’s Forex and CFD seminar in Croatia on March 14th

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk