Day: March 22, 2015

What Can We Learn from USD/JPY Upward Channel?

The US dollar demonstrated an impressive rally against the Japanese yen since August of 2014. The rally has stalled in December and the price has entered a sort of consolidation in a deformed triangle pattern followed by an ascending channel. The latter is currently presenting a valid trading opportunity for those who wish to bet against USD/JPY further gains. The validity of the pattern is additionally confirmed by the signs of a forming double top. The chart below depicts the pattern in details. […]