Strategy: Long wait
USDJPY in a pattern of upward candlestick engulfing over 78.88 support, intervention on 4 August closing high, but prices have failed to overcome resistance trend line down the value of mid-March (now at 79.78) confirming a reversal on the rise of at hand. We will pursue on the side for the moment, pending this barrier to be violated on a daily basis of closure, before attempting a long position.
USDJPY in a pattern of upward candlestick engulfing over 78.88 support, intervention on 4 August closing high, but prices have failed to overcome resistance trend line down the value of mid-March (now at 79.78) confirming a reversal on the rise of at hand. We will pursue on the side for the moment, pending this barrier to be violated on a daily basis of closure, before attempting a long position.
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