Hello everyone,
First prediction for this week be USD/JPY sell.
From fundimental point of view yestrday in Usa was set up a record with a new record of infection which from my opinon will send away investors or trader from investing on USD. But if you wanna to make short on USD/JPY I preffer to wait GDP of Japan which is at 00:50 at UTC+1.
From tehnical point of view we can see obviosuly a false breakout and testing resistance line couple of days with strong bearish signal on pin bar with bearish engulfing.
Ema of 50 is above Ema of 21 which is pretty good signal that we are talking about down trend and Ema od 21 make crossover of last candlestick which is good signal for downtrend for traders who likes to trade on crossovers.
From trend point of view we have a descending channel pattern with bearish candlestick rejected from top of descending channel which I predicted that our trend will go down to our support line at price of 103.190 cca.( depends of your trading style of make a decision where is your support line) which will be our TP. Our SL will be at above resistance line at price of 105.273 cca..( depends of your trading style of make a decision where is your resistance line).
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
First prediction for this week be USD/JPY sell.
From fundimental point of view yestrday in Usa was set up a record with a new record of infection which from my opinon will send away investors or trader from investing on USD. But if you wanna to make short on USD/JPY I preffer to wait GDP of Japan which is at 00:50 at UTC+1.
From tehnical point of view we can see obviosuly a false breakout and testing resistance line couple of days with strong bearish signal on pin bar with bearish engulfing.
Ema of 50 is above Ema of 21 which is pretty good signal that we are talking about down trend and Ema od 21 make crossover of last candlestick which is good signal for downtrend for traders who likes to trade on crossovers.
From trend point of view we have a descending channel pattern with bearish candlestick rejected from top of descending channel which I predicted that our trend will go down to our support line at price of 103.190 cca.( depends of your trading style of make a decision where is your support line) which will be our TP. Our SL will be at above resistance line at price of 105.273 cca..( depends of your trading style of make a decision where is your resistance line).
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.