USDJPY broke below ascending trendline, potential for further downside
Prices has broken below ascending trendline support-turned resistance, and stochastics is also appraoching resistance level where it has reversed from before. A bnreak and close below the Pivot, in line with horizontla swing low support and 100% Fibonacci extension, could see price sweing towards 1st support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.