Day: November 22, 2015

Another Pattern on USD/JPY — Ascending Channel

In addition to the still active trade on USD/JPY bullish flag pattern, the currency pair now shows an ascending channel formation on the same daily timeframe. This channel is a preparatory pattern for a bearish breakout trade and will most likely trigger if the aforementioned bullish flag trade fails. This USD/JPY setup complements a similar ascending channel on GBP/JPY. Look at the chart below to see the pattern marked with the yellow borders. The cyan line […]