USDJPY Technical Outlook For 25th August, 2016
Today the pair is not continuing any way for long. This USDJPY technical outlook will give the traders a better idea about this pair’s market outlook for today. The pair is showing bullish and bearish movement. So it can not be easily said that which trade will be preferable for the pair. Let’s have a look at the market:
USDJPY Still Inside Correction
The combine continues to be within a bigger degree correction, the worth is currently forming what seems like a triangle, thus expect an honest move pretty before long, still i’d favor draw back for chance to travel short once a escape happens, if it goes up solely on top of 101 I’d begin to seem for a get setup. IMPORTANT: The setups announce here aren’t trade calls or signals and area unit supposed for steerage purpose solely and you ought to use your own strategy to see entries and exits. They mirror my general read of the market and doesn’t mean you ought to take the trades while not a correct mercantilism arrange or strategy.
USDJPY Buy Or Sell
Here the market is in a little bullish move. In a while it can be bearish too. So if go up Buy at 100.700 / TP: 101.450 or untill 102.000. Sell at 101.450/TP: 100.700 – 100.250. Sell if price below 100.250/ Tp: 100.000 and lower.
USDJPY Symmetrical Triangle
Here the pair is in the preparation for Symmetrical Triangle.
USDJPY Going Long
Currently uptrend should end around 100.528795 – 100.671450 area. A correction down to 100.27635 – 100.166529 is expected. A rise above 100.891062 will abort the expected correction.