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USD/JPY W Bullish Pattern Turns the Trend to the Upside

Nenad Kerkez
Updated

Hi traders,

The USD/JPY has made a spike above the ascending trend line in the shape of W 1 2 3 bullish pattern.

The POC zone 108.40-55 could spike the price towards 108.91. H4 technical tools also point to the upside, as the USD/JPY aka Ninja turned bullish after a rejection from 108.34. The Emerging W bullish pattern points to continuation above 108.91 towards 109.05 with a final ATR projection at 109.43.

However, If the price goes below 108.34, it will make bears dominate again. Watch for rejection and or continuation.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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This article was originally posted on FX Empire

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