Outside Bar and Inside Bar on USD/JPY

Outside Bar and Inside Bar on USD/JPY

At the moment, a correction movement is observed on the USD/JPY currency pair. Close to the key support level of 112.850, classic patterns of the Price Action, Outside Bar and Inside Bar (H4 timeframe), were formed. We recommend paying attention to the formation data.

If the price fixes below 112.850, correction on the USD/JPY currency pair may continue. The movement is tending potentially to the round level of 112.000. Confirmations and entry points to the market should be looked for on the lower timeframes.

by JMarkets, 2017.07.13

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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