As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=110.45.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=110.65.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
Here is a simple set up for CHFJPY long positions.
Price is rejecting the 109.500 daily support zone and is flattening nicely with deceleration present. Price has broken above daily pivot now and I will be looking for the TL and 1hr 50ema to be broken and closed through next.
Safer entry would be to wait for the break ad retest of the TL and 1hr 50ema.
OBSERVATION: Price ranging with an ascending wedge. A close above or below support/resistance will trigger my trade. My bullish target: around 113.741, bearish target: around 111.063
I have been waiting for a decent long term short entry on NZDJPY for some time. Since the original sell off at the end of last year, price as been correcting and forming a large bearish wedge continuation pattern on the daily/4hr chart.
We have now seen this wedge broken out of to the downside with a 4hr lower low made.
I am now looking to enter on the next 4hr...
Very strong bullish move on this pair last week and resistance has been met. I believe this pair has run out of steam and a correction is needed hence my personal bias on this pair is short to the shown level for the time being.
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal...
Following the yesterdays’ selloff, the US dollar is trying to stage a comeback on Thursday, after Chinese government officials played down the reports that China is going to reduce its US Treasury holdings. However, the momentum looks limited as the bulls are taking a wait-and-see approach ahead of tomorrow’s key US economic data.
The market will analyze CPI...
The Japanese yen jumped higher overnight as the BoJ announced trimming longer-dated JGB purchases. This decision was viewed by the market as the first small step towards the monetary policy normalization in the country at a time when other major central banks are about to start reducing stimulus.
In a knee-jerk reaction, the USDJPY pair dropped 0.5% and touched...
Along with upcoming events the head and shoulders shows a high potential for a secure long sell position against the Yen.
I would sell upon the confirmation of the right shoulder. I will post a clear signal once the shoulder fully forms and continue on the reverse of the trend.
USD/JPY had been growing since Tuesday before it settled above the 112.00 level. One of the reasons for the recovery, apart from the approval of the tax cut bill, was a technical correction.
But today we see another decline. As usual, USD lost some points due to weaker Treasury yields. But, also, the market is now concentrated on the Fed’s monetary policy path...