Trade77; USDJPY Daily Triangle Setup 7am

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Price is still in a tight range between 82.00 and 83.50 and despite of that, sentiment is still bullish and upward pressure on this pair is very big. Price has finally made a low at 80.23 and now is trading blow 83.00 level.

We have got a daily symmetrical triangle which you can see in the chart below:

And I expect a break of the upper bond will occur soon and price could sharply go up and reach around 89.00 level in the next weeks. 83.00 is a short term resistant now and also after break of this level watch important 84.50 as the next resistant level.

Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.

Kindest Regards

Copyright secured by Digiprove © 2011

The following two tabs change content below.
Casey founded Winners Edge Trading in 2009 and is working to create the most current and useful Forex information and training available on the internet.
Follow our social media:
1359774937_facebook 1359774984_linkedin 1359774949_twitter 1359774960_google 1359774973_rss 1360027635_youtube

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news

  • Anonymous

    I don’t trade this pair. Sorry.

  • sakthivelun

    how about XauUsd, is up trend or down now it,s 1314, will it be going up, when we can see the movement

  • Greg

    I you are writing: “sentiment is still bullish” do you mean COT report?

  • Anonymous

    No Greg, not in this case. Because of all Japanese troubles for exporting and strong JPY I said that.