Retest on USDJPY. Time for a sell. USDJPY was ranging in a specific price zone and broke resistance just few hours earlier. I entered on a strong bearish candle hitting the exact zone. Hoping to get in with a sell stop. Stop loss placed approx. 5pips of high
EU finding some difficulty in breaking 1.2000 zone. We could see a break out of the rising channel for a correction before the continued buy to my TL targeted above.
In my novice analysis I have concluded that because of the extreme high we saw in this pair at 2.6 previously and then the extremes of consolidating lows around .14103 there is anticipation for a bull run.
•the price has broken the trend line creating higher lows on the weekly and daily
•price has been consolidating for an extended period of time after a huge...
Based on my novice analysis, price has hit a major support zone and has created 2 new higher-lows.
• Price trend has also crossed over.
• Price could hit a major support & resistance level of 10,811 or it may push through towards 11,250.
I am very optimistic about this - I am not taking the trade but I am watching it to see if my analysis is correct.
Please...
