Potential short on the EUR JPY chart. Serious down trend which increased in steepness. The price has broken through the 2017 low at 120.50 and is heading to a previous low of around 118.7 We have had a retirement around fib 0.618 up to 0.786 and a recent retracement at 0.236. Looking for the downtrend to continue to 118.69
Potential short position on the EURJPY. Heading for the monthly support of 120.
1. Bearish bat formation which turned out a winner, but not before putting up a fight. I entered this one since we also had a previously tested support and resistance area. 2. If the marked decides to push the price down we could see a complete bat formation. Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal....
As we could see if retest the green box support area 111-111.3, USDJPY very likely to reverse to its previous high 115.7 and 116.8. Find support at 112.5 level and potentially it could bounce back right after hit that support to test previous high resistance. REMAIN BULLISH ON USDJPY!! Wait to take long position at the support.
A small gap formed Sunday that needs filling. 'Hard Brexit' exaggerations were called out this morning, may assist this trade and any Sterling traders alike. Enjoy
buy @ 121.022. Great R/R because it is a very deep gartley formation.
USD/JPY was very bullish over the past 2 weeks. We are still bullish for this pair too. Nedd to monitor closely. If the price breaks the resistance zone strongly, wait for pullback and long for this pair :) Risk to Reward Ratio is 1:2 Trade with right risk management :)
USDJPY ABCD PATTERN IN PROGRESS THE NFP REALLY HELPED THIS MOVE I STILL THINK THIS HAS A FEW MORE DAYS TO DROP AND MAY HIT THE D EXTENSION
It hit the price level that it tested before and is now going to break through to the next price level of 150.600
Risky set up coming into key 155 level. Could have waited to see if price breaks below this level before entering. Price going below the key 160 and showing strong downwards momentum. I can see on the weekly and month that there is much lower to go. Price is still making lower lows, and lower highs. Got some news to trade through, although on the surface this...
The Aussie has become somewhat neutral currency due to the halting of monetary easing giving the opportunity for the AUD to rally from lows against weaker currencies. On the JPY side of the trade the BoJ are actively intervening in the FX space to keep their currency weak. The dangers of this trade are the safe haven flows strengthening the JPY momentariy. However...