Yahoo Finance 3 Sweet Setups with JPY!
Today, we do have three pairs with the Japanese Yen. The first one is the GBPJPY, which is giving us a super strong long-term sell signal. The pair already broke all major supports and now is testing the closest one as a resistance. The first contact was bearish but it seems like we will have another test soon. Double top on such an important level can be a marvelous trading opportunity.
The next one is the NZDJPY, which is very close to denying the strong buy signal created by the piercing pattern on the weekly candles. We are on the crucial long-term support and a bearish breakout can cause a real waterfall here with a bearish opportunity for hundreds of pips.
The last one is the USDJPY, which already broke the trendline and the horizontal support on the 110. The first one was already successfully tested as a resistance and the second one should be tested soon. A bearish bounce from the 110 will be a legitimate sell signal.
This article was originally posted on FX Empire
