In the previous week USD/JPY gained +1.261 points.
From the last candle there will be an uptrend to the parallel channel and then price will start to fall again.
Here, the hurdle is 106.06 level. If candles consecutively crosses the dynamic resistance(DR) there will be an uptrend and price will increase to the 106.76 or above but if candles continuously move downwards under the DR or parallel channel, In this situation trend will be continue to move in the same direction and it will decrease to the control price or more. If trend crosses the hurdle there will be the first target of 105.86 level and second target will be 105.60 level.
If you pay attention to the whole trend of this chart you will get to know that there is the extreme fall in trend from the point which shown by the blue arrow which indicates the overbought and volume spike. and you can see, every time when the tail crosses dynamic resistance, trend decreases. and every time when the candle touches a support trendline, trend moves upside.
By crossing the support trendline, It makes a major failure and it continuously decreases, and makes an excess, after that it again started to move upwards.
From the last candle there will be an uptrend to the parallel channel and then price will start to fall again.
Here, the hurdle is 106.06 level. If candles consecutively crosses the dynamic resistance(DR) there will be an uptrend and price will increase to the 106.76 or above but if candles continuously move downwards under the DR or parallel channel, In this situation trend will be continue to move in the same direction and it will decrease to the control price or more. If trend crosses the hurdle there will be the first target of 105.86 level and second target will be 105.60 level.
If you pay attention to the whole trend of this chart you will get to know that there is the extreme fall in trend from the point which shown by the blue arrow which indicates the overbought and volume spike. and you can see, every time when the tail crosses dynamic resistance, trend decreases. and every time when the candle touches a support trendline, trend moves upside.
By crossing the support trendline, It makes a major failure and it continuously decreases, and makes an excess, after that it again started to move upwards.
Trade closed: target reached:
The first target of USD/JPY has come.