{"id":8785,"date":"2010-04-23T08:55:44","date_gmt":"2010-04-23T12:55:44","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8785"},"modified":"2010-04-23T08:55:44","modified_gmt":"2010-04-23T12:55:44","slug":"forex-technical-analysis-usdjpy-bullish-flag","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/23\/forex-technical-analysis-usdjpy-bullish-flag\/","title":{"rendered":"Forex Technical Analysis \u2013 USD\/JPY \u2013 Bullish Flag"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; The USD\/JPY appears to be ending a period of consolidation as the  pair formed a bullish flag pattern on the daily chart. Below is a  possible trade setup for the USD\/JPY<\/p>\n<p>The daily chart shows a sharp price  appreciation in the pair beginning on March 24th and continued on to set  the yearly high for the pair at a price of 94.78. Following this sharp  price jump of 432 pips, the pair formed a price channel with a negative  slope as shown in the chart below. The Forex Technical Analysis shows  this pattern to be a bullish flag.<\/p>\n<p>To trade the pattern, traders may want to wait for a confirmation of  the breakout. An entry long on the USD\/JPY at 10% above the flagpole at  the price of 95.21 (432*0.1 = 43) should provide enough clarity. This  would also allow the price to breach the resistance line at the price of  95.<\/p>\n<p>A stop of 25% of the flagpole can be set at 93.70 (432*0.25). This  would make for a risk of 108 pips and help contain the risk of the  trade.<\/p>\n<p>The first take profit level would be the amount at risk, or 108 pips,  at a price level of 96.29.<\/p>\n<p>A second take profit level would be the full length of the flagpole  of 432 pips at a price of 99.53.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/USDJPY-Bull-Flag.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/USDJPY-Bull-Flag.JPG\" alt=\"\" width=\"595\" height=\"571\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex                      Yard.<\/strong><\/a><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                      may not be suitable for all investors. There is a           possibility      that     you   could sustain a loss of all of   your         investment and      therefore  you     should  not invest   money  that   you      cannot afford to      lose. You  should  be      aware of   all   the    risks   associated with   Foreign    Exchange    trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The USD\/JPY appears to be ending a period of consolidation as the pair formed a bullish flag pattern on the daily chart. Below is a possible trade setup for the USD\/JPY The daily chart shows a sharp price appreciation in the pair beginning on March 24th and continued on to set &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/23\/forex-technical-analysis-usdjpy-bullish-flag\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 USD\/JPY \u2013 Bullish Flag&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-8785","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=8785"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8785\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}