USDJPY on the monthly chart has been in a extremely long retracement move.
Market is inside a huge monthly triangle pattern strated at 125 level which also is a huge double top over the 2007 highs.
Price has been testing the 106 area several times and never manage to break it and the discending monthly trendline (purple) always reject the break to upper side.
IF the price will break above the monthly trendline and consequently above the weekly resistance we can look for a nice long position.
IF the market will break below the monthly structure instead we will be careful to wait a proper confirmation of the inversion of the trend.
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Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Market is inside a huge monthly triangle pattern strated at 125 level which also is a huge double top over the 2007 highs.
Price has been testing the 106 area several times and never manage to break it and the discending monthly trendline (purple) always reject the break to upper side.
IF the price will break above the monthly trendline and consequently above the weekly resistance we can look for a nice long position.
IF the market will break below the monthly structure instead we will be careful to wait a proper confirmation of the inversion of the trend.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
