Thu, 18 Jul 2013 14:09:20 GMT
USD/JPY 4H Chart: Channel Down
A 301-bar long Channel Down pattern was formed by USD/JPY on April 30, however, the pair is moving to its apex. Usually, trading around the resistance line would be interpreted as a "sell" signal, however, in this case an upside breakout is expected. This idea is supported by aggregate technical indicators on 1D and 1W charts. The penetration of upper