Tuesday, April 1, 2014

UsdJpy could form a dip!

This market is still in a very strong Uptrend and it's still maintaining it.
Presently we see a falling triangle formed on daily time frame which if broken could send this pair up significantly.

Price is presently at the top of the afformentioned triangle and with the harmonic pattern formed at a falling trendline in H4, we could have a dip to 101.5 before the bullish trend resumes

If i see a bearish engulfing bar on H4, i will sell this pair and expect to ride to 101.60 before thinking where this market would go.

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