![USD/JPY flag pattern develops [Video]](https://i.headtopics.com/images/2023/8/18/fxstreetnews/usd-jpy-flag-pattern-develops-video-usd-jpy-flag-pattern-develops-video-16B7CB9A216E00EB41E24DCC0058DA8B.webp)
The USD/JPY pair dropped in the short term as the Yen Futures rallied and the DXY retreated a little. Surprisingly or not, the price dropped even if t
pair dropped in the short term as the Yen Futures rallied and the DXY retreated a little. Surprisingly or not, the price dropped even if the Japanese data came in worse than expected and the US figures came in mixed in the last session. Fundamentally, the rate registered a strong sell-off after the FOMC Meeting Minutes.
Technically, the rate came back below the median line signaling a corrective phase. The price action developed a flag pattern which may represent a bullish formation. Taking out the downtrend line may announce a new upwards movement.Information on the Learn2.trade website and inside our Telegram Group is intended for educational purposes and is not to be construed as investment advice. Trading the financial markets carries a high level of risk and may not be suitable for all investors.
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