Daily Forex Chart Art – Dec. 12, 2014


USD/JPY: 1-hour

USD/JPY: 1-hour


If you’ve been on USD/JPY’s northbound train for quite some time now, you might want to consider hopping off! The pair just broke below the rising trend line on its 1-hour forex chart, indicating that a reversal is bound to take place. The pair dipped below the 118.00 mark then pulled up for a retest of the 119.00 handle, which is right around the broken trend line and the 50% Fibonacci retracement level. Stochastic is pointing down, hinting that the pair could be southbound for now and on its way to test the previous lows or perhaps make new ones.

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