29.09.2020
The overall trend is downward. The ascending H4 level pattern is truncated and ended with the breakout of an inclined channel. Awesome Oscillator indicates a bearish divergence. A breakout of 105.33 will result in the formation of a descending wave pattern within the general downtrend.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
Sell when a descending wave pattern is formed – at the breakout of 105.33.
Stop Loss: 105.70.
Target levels: 104.86; 104.00.
If the price returns to the resistance level of 105.70, readjust the trading plan according to a new ascending pattern.
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