rv
Short

USD/JPY Daily.

rv  
FX:USDJPY   U.S. Dollar / Japanese Yen
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3
Pair has been consolidating for several months. Has broken the 2013 uptrend_line.
Below 100 and 200 Daily sma . Finding some support on the 50 weekly sma .
Within Descending Triangle pattern. MACD turning negative. ( monthly MACD has turned )
Possible 5th wave, entry point. Weekly RSI has broken uptrend_line.
Confirmation breaking horizontal support at 100.700.
Needless to say, this support is quite critical.

Targets :
100.740
99.966
98.977
97.400

Invalidates, break above Triangle. Turns Neutral. with
resistance at 102.778 and 104.087.

Comments

This pair is moving sideways. Look for a break above or below 101.350.
Reply
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