trend is in transitional phase so it's hard to tell whether it's a continuation or the exhaustion point of first impulse leg
Initial support is seen at 95.95 – 95.75 followed by lower support at 95.0 – 94.75. A bullish follow through above the first support with a breakout above 96.55 which marks the bull flag’s high could signal a longer term rally that could see 97.45 followed by 98.55 levels being marked as the minimum price objective here. The bullish view could, however, turn...
If 106 is overcome, it could be the sign of further strength as the last retracement is somewhat more aggressive than the previous attempts
Trading for this week: 1. My plan for next week focuses on point "3." from the previous post - I am waiting for risk-on or risk-off assets to confirm investor conviction by using USDJPY as a barometer for net risk sentiment. Despite the market uncertainty and high volatility UJ last week traded within a 200pip range for the between 101.3-103.3. Therefore, I...
Expectations vs Reality: 1. Following the referendum decision on Friday, as expected GBP sold off 10%+, the FTSE plummeted in a similar fashion and global risk assets sold off across the board, but FTSE/ Risk recovered a significant amount of those losses into Fridays close and for the rest of the next week.. So what happened to BREXIT? - Such behaviour would...
Looking at prior history (left) on this Weekly chart you can see that we're at an important area here. We can see that the Bat completed, but failed to even break to a full 27.2% retrace. We then continued on down to fully complete the H&S pattern (& 200% ext); yet again, failed to retrace even 27.2% before a low NFP pushed it back down to retest prior lows area....
Dollar Yen has break the rising trend line yesterday but being false break. Now price testing another falling trend line which could possible be the last test for price before a reversal setup or breakout signal formed. If the price could make a breakout, we Long after pullback from breakout, upside target 111.90 If the price being rejected by the falling trend...
Watch the lines because it is important to know which line rejected it and which line saved it. The price of the asset merely bounces between lines. USDJPY might have a bounce, given that it was recently saved by that black line, but get ready to go short again as soon as it starts to break down at that black line.
USDJPY has formed and been trading within this descending channel over the last couple of weeks. After a failed retest of the 114.00 levels, it looks as if USDJPY is on it's way down. Prepare for a retest of the lows at 110.667, as well as a potential bearish break out. Market expected to head toward 110.00, 105.00, and eventually 101.00
Hello Traders, We have 3 Wolfe Wave's here that I want to take a look at. 1. The first Wolfe Wave on the left completed in late 2014 at the 1-4 target line. 2. While the first Wolfe Wave was carving its path to the 1-4 line. A second Wolfe Wave formed. Here we created a 5" structure with the Geo's Off-Set Rule #3 at point 3. 3. The final Wolfe Wave was...
USD/JPY Weekly outlook, we have a couple reasons to think this is a bullish retracement. Returning into the weekly drop. Something to look at.
Here we have some very simple USDJPY analysis. I have a bearish bias on this pair however due to price sitting at around support currently I have provided a long scenario target. As we can see from the analysis USDJPY has successfully broken below what was a Major Monthly Ascending Trendline. The short term trend is also bearish on this pair. Taking all this...
Similarly to GBPJPY, USDJPY seems to have topped after moving past the vix spike 75% retrace support level. On the daily chart we can observe bearish rgmov signals and on the weekly we can see that price has gone under 123, and failed to produce new highs after testing a quarterly range expansion bar's 50% level. It seems like this is the start of a strong bear...
expecting some buying pressure at 122.00 psychophysical level. break retest continuation patten/Resistance became support. Also in confluence with he 0.382 fib level. Long term target still the same at 130.000
This is another chart based on harmonics on USDJPY H4. This is a Gartley which will completes around 119.70.80 area which indicates, this pair may have a fall / reversal from this PRZ (Price Reversal Zone). As par this chart, we may have a short trade on this pair from 119.70-80 area where we can stop at 121 even. We may let this target open to suit our targeted...
USD/JPY started the last week breaking below a descending triangle, but was not able to extend lower. Instead it continued to consolidate, and surged after the NFP report. In this chat we can see that the market is on the upper Trendline of a triangle which is now in a challenging situation. If this dynamic resistant zone break successfully, it will expose the...
The USDJPY is presenting a short setup as seen in this weekly chart where the RSI and Stochastics are both rolling over from overbought levels. The MACD blue line is also flattening, with the MACD histogram finally falling for the first time this week in its current rally. Equally importantly is how the USDJPY has just been rejected at the ascending wedge...