Bullish Engulfing on USD/JPY

Bullish Engulfing on USD/JPY

The current technical pattern indicates a possible correction of the USD/JPY currency pair. The trading instrument held a key support level of 108.750. Near this mark, the pattern of the Price Action, Bullish Engulfing, was formed (H4 timeframe). In the near future, purchases may prevail on USD/JPY. We recommend you to pay attention to this situation.

If the price fixes above the local resistance of 109.500, you need to look for entry points to the market to open long positions. The immediate goal for profit taking is the round level of 110.000. Confirmations and entry points to the market should be looked for on the lower timeframes.

by JustForex, 2017.08.22

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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