USDJPY-Weekly Market Analysis-Dec20,Wk5

٢٦ ديسمبر ٢٠٢٠

An ABCD Pattern is not usually the setup I'm looked at, but when it is spotted, there's a good reason to look for a trading opportunity, once the candle has show confirmation of its trend.
At this moment, we have an inverted ascending triangle and it is perfect for counter-trend and breakout traders to look at this trade.
If the trendline is not broken, I'll wait for a buying opportunity and if it breaks and closes above the resistance line, I will wait for a retracement to engage the trade.