Price is now looking to breakout of the intraday resistance level with a potential re-test of the yearly highs made earlier in the month.
A test of these highs looks crucial because if the swing high resistance gives way we could see another extended leg higher.
The trend has been clearly higher on the daily chart this year and another break would expose a lot...
We have been discussing this market regularly in recent times.
Yesterday we discussed the intraday price flip level and the new momentum higher on the smaller time frame charts.
Price has made a sharp pullback and retrace.
If price can take out the recent intraday swing high it would pave the way for the next extended leg higher.
Since last week, been saying since last week, EUR/JPY is going down and i was right.
My account management clients have profited and my signal packages have also profited.
Swing high and lows identified
Previous fib still in existence
trend channel identified: Strong as three shadows have touched and bounced back down significantly.
Cross lines which have...
Looks like the swing highs and lows are all following a descent pattern or some sort of channel.
Hoping that another swing high happens so I've placed a limit order with a considerable enough stop loss and a big take profit however, once price hits take profit, it should bounce back up due to previous support level and that the trendline shows lots of support...
Price could retrace back because it touches the resistance line many times and it is appearing to retrace back quite a lot due to many swing highs and less swing lows.
