USDJPY 4HR Descending Channel To Be Broken
USDJPY dips below 108 today which is an important level in the short term. The 4-hour chart is showing us that the descending channel could break higher before testing major support.
The levels we must watch in mind are the following: 106.937, 108.168 - 108.585, 109.250
Note: This would be in the event that the ascending channel is broken
What do we have here?
✔️ Bull Flag Formation and Descending Triangle
✔️ USDJPY- Near Major Support Level
Thank you, Connor,
Please feel free to follow me to get more analysis. On Tradingview I share 1hr, 4hr, 1D, 1W charting analysis across major instruments only. For more short term analysis and trading ideas please subscribe to The Margin Call.
The levels we must watch in mind are the following: 106.937, 108.168 - 108.585, 109.250
Note: This would be in the event that the ascending channel is broken
What do we have here?
✔️ Bull Flag Formation and Descending Triangle
✔️ USDJPY- Near Major Support Level
Thank you, Connor,
Please feel free to follow me to get more analysis. On Tradingview I share 1hr, 4hr, 1D, 1W charting analysis across major instruments only. For more short term analysis and trading ideas please subscribe to The Margin Call.
