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USD/JPY Full Bearish Continuation Below 111.63

By:
Nenad Kerkez
Published: Oct 16, 2018, 08:59 UTC

The USD/JPY has formed a possible bearish continuation pattern if it closes below the W L3 support at 111.63. However, a correction is still possible. A

USD/JPY Full Bearish Continuation Below 111.63

The USD/JPY has formed a possible bearish continuation pattern if it closes below the W L3 support at 111.63. However, a correction is still possible.

A bounce from the W L3 is not a surprise as camarilla pivots are deadly accurate in predicting u-turns and bounces. If the price breaks above the ascending trend line and W H1 at 112.40 we might see 112.79. A close below 111.63 is needed for a continuation towards 111.05 and eventually 110.26 which isn’t very likely at this point.

USDJPY

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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