Monday, September 26, 2016

UsdJpy: A possible diagonal could mean the end of the Bears.

Our last forecast for UsdJpy- a triangle pattern for price to resume upward- was not completed as price dipped further after the BOJ and FOMC statements.

We can still count on the fact that price will soon be exhausted downside for a large bullish turn.

With the chart above, price may dip further to complete an ending diagonal at 98.85-99.50 which will be the last leg of a longer term correction.

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