The Japanese cable is trading in a bullish channel on the H4 frame, but it broke the upper side of the bullish channel with strong bullish momentum during this week. The price is now trapped between the upper leg of the broken channel and the 137.80 level, which constitutes an important price resistance. Traders are advised to enter into short positions from the aforementioned level and to enter into the buying levels from the upper side of the broken channel with caution and determine an appropriate stop loss.
The Japanese cable is trading in a bullish channel on the H4 frame, but it broke the upper side of the bullish channel with strong bullish momentum during this week. The price is now trapped between the upper leg of the broken channel and the 137.80 level, which constitutes an important price resistance. Traders are advised to enter into short positions from the aforementioned level and to enter into the buying levels from the upper side of the broken channel with caution and determine an appropriate stop loss.