Good afternoon Traders,
I hope you are all enjoying your weekend, many of you have been asking my views on the election results - seeing as I have many followers who are Trump supporters, i would like to start by congratulating you guys on the W. Marginally I thought he was the better candidate, not that I thought either were great.. in the same breathe the amazing thing about living in a country like the U.S is that one person does not single-handedly make all the decisions.
In any event moving onto the USDJPY, tactically overbought trend may dip to offer better buy point USD/JPY rally isone to be long and buy on dips. Below we can see the already formed bottom pattern in the daily chart and the trend following bullish signals;
Overbought momentum pullbacks to 105.50 or 104.40 can be bought in anticipation of higher technical levels being reached, including 107.45, 108.40 and 111.35.
Please see related ideas and success in JPY to understand my previous accuracy with this pair, it is very seasonal to trade and congratulations to all my premium members who have been making the most of the volatility. You will see I did call 110 some time ago, and with ABSOLUTELY no drawdown we are almost there! (Chart is called USDJPY 110 next stop 16th August).
Another exciting week ahead, as most of you know my stance on eur.usd already I will also be posting another update for this pair soon.
Enjoy your weekend, and should this chart help please support by giving it a thumbs up!
All the best and GL.
I hope you are all enjoying your weekend, many of you have been asking my views on the election results - seeing as I have many followers who are Trump supporters, i would like to start by congratulating you guys on the W. Marginally I thought he was the better candidate, not that I thought either were great.. in the same breathe the amazing thing about living in a country like the U.S is that one person does not single-handedly make all the decisions.
In any event moving onto the USDJPY, tactically overbought trend may dip to offer better buy point USD/JPY rally isone to be long and buy on dips. Below we can see the already formed bottom pattern in the daily chart and the trend following bullish signals;
Overbought momentum pullbacks to 105.50 or 104.40 can be bought in anticipation of higher technical levels being reached, including 107.45, 108.40 and 111.35.
Please see related ideas and success in JPY to understand my previous accuracy with this pair, it is very seasonal to trade and congratulations to all my premium members who have been making the most of the volatility. You will see I did call 110 some time ago, and with ABSOLUTELY no drawdown we are almost there! (Chart is called USDJPY 110 next stop 16th August).
Another exciting week ahead, as most of you know my stance on eur.usd already I will also be posting another update for this pair soon.
Enjoy your weekend, and should this chart help please support by giving it a thumbs up!
All the best and GL.
Comment:
Given the /dx has so much room this is only just getting started!
Trade closed: target reached:
114.70
