USD/JPY Breaks Flag Pattern; Maintains Bullish Momentum

Posted by on Nov 30, 2012

USD/JPY 4H Chart 11/30/2012 7:16AM EST Flag pattern breakout, momentum: Following up with the previous update on USD/JPY, where we observed a flag pattern development, the 11/30 trading session began with a push above this flag pattern as seen in the 4H chart. I noted that the 4H RSI held above 40, showing maintenance of the bullish momentum. The flag pattern breakout is a bullish continuation sign, and the RSI pushing above 60, tagging 70 also reflects bullish continuation momentum. Target,
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