USD/JPY Bullish W Pattern with Ascending Trendline

Februar 27, 2018 10:23

The USD/JPY has formed a W bullish pattern straight from the W L3 support. We can also spot an ascending trend line supporting the bullish outlook. The POC zone 106.85-107.00 could spike the price upwards towards 107.15 and 107.36. However, a 4h close above 107.36 is needed for a continuation towards 107.70-85. Only below 106.50, the price should turn bearish and possibly reach 106.17.

Source: Admiral Markets MT5 with MT5SE Add-on

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Remember, you can find more education, analytics, articles, and webinars in our Analytics section. Check it out for lots more!

Follow Admiral Markets on Facebook – @AdmiralMarkets on Twitter – for the latest market updates.

Admirals Vse rešitve na enem mestu za porabo, investiranje in upravljanje denarja

Več kot samo broker, Admirals je finančno središče, ki nudi široko paleto finančnih produktov in storitev. Omogočamo vam upravljanja vaših osebnih financ preko enkratne združene rešitve, ki omogoča investiranje, porabo in upravljanje denarja.