A Thought In Probability

Good Morning Dynamic Traders!

My trading week would not be complete without a glance at my favoured currency pair!

Below is the daily chart for the USDJPY.

This pair has been on a persisting downtrend for over two decades and more recently since July last year. Last month it sprung back from a powerful support level on a determined ascent.

Price is currently testing a material trend line resistance. Indications certainly favour a further incline, supported by the DD rules.


USDJPY daily chart Advanced Get

A study of the 60 minute chart below displays an agreeable chart pattern which may confirm further strength if the resistance is conclusively breached.

Although analysis may place probabilities of a "long" opportunity in our favour, risk funds should be spent wisely in the certain knowledge of an "uncertain" outcome.

Be mindful of the mass news items due for release today!


USDJPY 60 minute chart Advanced Get

Good Trading!

Saba Jackson