Inside Bar on USD/JPY

Inside Bar on USD/JPY

The USD/JPY currency pair has been growing. The trading instrument has updated local highs. The current technical pattern signals a further increase in USD/JPY quotes. Some classic patterns of Price Action, "Inside Bar" (H4 timeframe), have been formed in the trading instrument. At the moment, the currency pair is consolidating near the resistance level of 107.85. We recommend paying attention to this situation.

If the price fixes above 107.85, USD/JPY purchases should be considered. The nearest goal for profit-taking is 108.40. The movement is tending to the round level of 109.00. When following positions, we recommend using a trailing stop.

by JustForex 2020.06.30

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.

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