USDJPY has a breakout from the Inverted Head & Shoulder pattern. It has achieved its first upside target while trending in channel pattern. Before moving for target 2, which is resistance 2, we might see some consolidation or downside in USDJPY before giving breakout. For confirmation, one can consider the channel pattern breakout for a long or short trade in USDJPY.
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Vivek
have half a decade of experience as a trader and enthusiastically learning & developing new strategies and convert it into algorithm trading & also analyzing the companies with ESG method.
