USDJPY, H4 - the beginning of a new downward impulse?
In the previous analysis, we discussed the possibility of an irregular correction to appear. Under this pattern, the C wave could already end by the breaking of the upward trend line. As a result, a new downward impulse may occur and strengthen the Japanese currency.
Around 109.32 remain the key potential resistance. Only overcoming this level could lead to a change in sentiment in this market.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
Around 109.32 remain the key potential resistance. Only overcoming this level could lead to a change in sentiment in this market.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
