At the moment, bearish sentiment prevails on USD/JPY. The technical pattern indicates the further strengthening of the currency of the "safe haven". A classic pattern "Triangle" was formed in the trading instrument, which quite often acts as a continuation of the current trend (M15 timeframe). The USD/JPY quotes are testing the local support of 109.200.
If the price fixes below the level of 109.200, we recommend you to look for entry points to the market to open short positions. The closest target for profit taking is the support level of 108.800. When tracking a position, one should use a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account