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orvilleawright

BULLISH USDJPY 1 Hour: Down channel has been broken

Dollar A.S. / Yen Jepang (FX:USDJPY)  
orvilleawright  
FX:USDJPY   Dollar A.S. / Yen Jepang
USDJPY hourly Bullish Patterns buy LONG Descending Channel Ascending Channel support Support and Resistance price-action structure-trade breakout rsi_overbought
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usdjpy hourly bullish buy long descendingchannel ascendingchannel support supportandresistance price-action structure-trade breakout rsi_overbought
Nov 17 2015: BULLISH USDJPY 1 Hour: Down channel has been broken
(Analysis Based on 1 Hour chart)

Observations
1. Price has broken the down channel and has created a higher high
2. RSI overbought at swing high

NOTE: Wait for price action to confirm the importance of these levels. Buying zones are at retest of previous structure as well as retest of the down channel which has been broken.

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