A false breakout was drawn from the level of 3695000 and impulse movement was formed, which indicates the continuation of the long trend. Investors' sentiment about market prospects remains negative, which is an additional signal of future growth of quotations. Overall, the situation looks positive for bitcoin , we expect systematic renewal of local peaks with the...
". There is a possibility of temporary retracement to the suggested support line (108.65).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDJPY is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...
". There is still a possibility of temporary retracement to suggested resistance line (107.807).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. USDJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
Price may touch down at resistance at 109.30. Price could then bounce back off this previous resistance level and then continue bullish momentum. This would trigger a long trade.
Price may reach the support of the trend line (108.90) and reject off the 61.8 fib level in which we would then go long (providing good technical confluence of...
Flag pattern clearing forming on 1H chart.
This pattern can also be seen up to the 4H chart.
This flag pattern is a possible indication of a continuation of the bullish trend we have seen on USDJPY in recent weeks.
Strong rejection at support @ 108.40 would confirm a buy or you could wait until the break out and retest at 108.80 for a more risk off-trade.
Apologies on the delay of posts this week guys, we have had a busy week with other commitments outside of the trading world.
nevertheless we have not yet encountered any loosing trades this week and its fair to say we have taken advantage of the beginning of this month. This is a trade that we entered here at forexinsightsuk at the beginning of the week and...
13:30 GMT - Still no change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. The break above the 107.15 Fibonacci retracement has improved sentiment once again, with JPY-driven trade extending January gains towards congestion around 107.50. Broad weekly charts are positive, highlighting later clearance towards...
13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement, where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish, however, highlighting a later break and continuation...
This has seen strong growth in the past 2 weeks and is now at a level were there has previously been resistance. It was also overbought on RSI recently. With this in mind I am looking for a possible short to at least 0.382 Fibonacci. Entry now would be quite risky as MACD is still bullish and EMA's are still long so a safer entry would be to wait for a drop and...
Last week we broke the descending wedge and now we may see a short move upwards. Best place to get in is shown on the chart. Wait for corrective price action leading to the area of interest.
First target would be the -27% fib.
13:45 GMT - The anticipated test above the 105.50/68 barrier has reached 105.77, where unwinding intraday studies are prompting short-term reactions.
There is potential for a run towards the 106.00 Fibonacci retracement, but overbought daily stochastics are expected to limit any immediate tests in profit-taking. A short-term pullback is possible, but rising...
Possible short opportunity on USD/JPY.
Price has broken the triangle pattern and has now reached resistance at 104.70. We have seen a slight indication of bearish rejection at this level.
So, if bearish rejection at this level is strong, a break in the trend line may call for a short opportunity down to the 103.65 level.
Caution around the 200 day EMA as this...
USD/JPY has been consolidating the whole year after the volatile moves in March. I do see the downtrend momentum coming to an end and a bullish continuation. we will have to see it break above key levels and remain above to see bulls taking over.
USDJPY is trading in a strong bearish trend .
The price is falling in a major falling channel for a quite long period of time.
However, since November the price is in consolidation.
The market is stuck within a 103.7 - 104.7 horizontal decision range.
While the price is inside, the future direction of the pair is...
A Trading Signal is seen in the USDJPY Currency Pair.
Traders can open their Buy Trades NOW
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USDJPY brokedown below the neckline support of the H & S pattern as expected from my previous analysis. The market is currently testing the support of the descending triangle. Potential price actions indicated. RSI pattern could be a confirmation.