Good short term retracement trade. Not a super strong resistance, but should work. Weakening of JPY will lead to upward move, after settling of political issues in US.
Description within chart markup. Slight bullish movements with overall outlook of bearish.
Japan has been in a channel since the end of 2016, after the break of a wedge formation on the 12/03/17 coupled with a SAR swap and a fall outside the Keltner further bearish movement has been expected. This was tested on the 11/04/17 as the Nikkei convincingly closed outside of the channel. Today we have had confirmation of that break out.
range bound trading for weeks. nice option for short term long trade
Rangebound trading. Hit bottom level. Expected rise. Short term rangebound trade.
Nikkei breakout the channel and recently tested back and got rejected i expect a move to monthly support @ 18600-18700 It will push UsdJpy down to 108 Levels. good luck!
Note how closely correlated the USD is to the Japanese stock market. As dollar strengthens the JPY weakens and the Nikkei moves higher to price in inflation. The reverse occurs when the dollar weakens, so does the Nikkei pricing in deflation. makes you wonder why the Bonk of Japan even bothers at this point since the FED has far more influence on what goes on in...
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) Best regards Aaron
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron