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ProficientForex
7 Feb 2021 pukul 08.58

The termination of the Diagonal pattern 

U.S. Dollar/Japanese YenFXCM

Deskripsi

Let us first point out that the price is forming a Triangular pattern in the weekly chart. The price is currently in wave D of this pattern.

(Daily Chart)
In the daily chart, the first uptrend (wave A) has ended in the range of 111.68 and the price with the Diagonal pattern has completed the corrective phase of this uptrend in the range of 102.59. By crossing the price from the range of 105.67, the initial confirmation of the uptrend will be received, and now we need 5 waves pattern.
In the 240-minute chart and by monitoring the details, we see that 3 waves out of the first 5 waves are composed, and the price can extend the uptrend after a corrective movement that can be developed up to the range of 105.19 to 104.84.
The range of 104.39 is very important to us.
Komentar
ShaibuIbrahim
This is a very lucid explanation. The very best currently. Thanks
ForecastCity_World
Here is our idea
ForecastCity_World
Well done!
ProjectSyndicate
detailed overview and great chart for USDJPY traders this week, keep it up!
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