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USD/JPY W Bullish Pattern Turns the Trend to the Upside

By:
Nenad Kerkez
Updated: Jan 16, 2019, 13:05 UTC

Hi traders, The USD/JPY has made a spike above the ascending trend line in the shape of W 1 2 3 bullish pattern. The POC zone 108.40-55 could spike the

USD/JPY W Bullish Pattern Turns the Trend to the Upside

Hi traders,

The USD/JPY has made a spike above the ascending trend line in the shape of W 1 2 3 bullish pattern.

The POC zone 108.40-55 could spike the price towards 108.91. H4 technical tools also point to the upside, as the USD/JPY aka Ninja turned bullish after a rejection from 108.34. The Emerging W bullish pattern points to continuation above 108.91 towards 109.05 with a final ATR projection at 109.43.

However, If the price goes below 108.34, it will make bears dominate again. Watch for rejection and or continuation.

2019-01-16USDJPY

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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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