USDJPY RETEST OF CHANNEL SUPPORT

22 lug 2018

Only few days ago the usd broke the channel resistence and now just retested as a support. one possible scenario could take the pair to go higher before a massive drop. so the pair could go up again and touch highs that had in 2017 and than have a massive drop. anyway before trading this pair always wait for something to form on the chart, such as m's and w's or ShS that could form on 15 minutes chart. instead if you are trading candle patterns you should wait for formations on a 1 hour chart, because candle patterns tend to be more effective on higher time frame.