empty
 
 
21.10.2021 01:42 PM
USD/JPY analysis for October 21 2021 - Breakout of falling wedge and potential for bigger rally

Technical analysis:

This image is no longer relevant

USD/CAD has been trading upside today and there is potential for bigger rally.

Trading recommendation:

Due to the downside exhaustion on the larger time-frames, I see potential for the rally in the next period.

Watch for buying opportunities on thee dips with due to breakout of the falling wedge.

Upside targets are set at the price of 1,2370 and 1,2405

Stochastic is showing bullish divergence and confirmation for further rally...

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback