Breaking out of the Cup and Handle Pattern
In the 1H chart, you can see a nice cup and handle pattern being displayed nicely on the USDJPY pair. Now,it has just broken out of its handle and is moving up towards the rim of the cup or resistance level at 109.701.
The more cautious ones can wait for it to break out of 109.701, pull back and buy or you can initiate a buy position now as it is still within the green bullish trend line.
If the US-China trade deal is offering optimism and hope in the market, then there is no reason to hold on to YEN as a safe haven currency, i.e. more reasons to long USDJPY than to short it.
The more cautious ones can wait for it to break out of 109.701, pull back and buy or you can initiate a buy position now as it is still within the green bullish trend line.
If the US-China trade deal is offering optimism and hope in the market, then there is no reason to hold on to YEN as a safe haven currency, i.e. more reasons to long USDJPY than to short it.
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Praise the Lord. Trust you follow and make some money on a Monday !