EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
PURPLE ARROWS - resistance
ORANGE ARROWS - support
As you can see price has been used for support and resistance on both timeframes on a regular basis, Now price is almost at this level so we will be looking for a BREAK or BOUNCE of this important level... if price BREAKS and closes above this level we will BUY, if price BOUNCES and closes below this level we...
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...
The risk-on mode is on, and that is what helped the US dollar to ‘save the face’. The US currency managed to recover part of its previous devastating selling.
On Wednesday, USD/JPY lost almost 100 points, but the pair could recover the smile. Anyways, we'll keep that in mind.
USD/JPY spent some time within a tight range because USD was not able to move to the...
USD/JPY short downtrend on H1.
You can see the importance of diagonal resistance and support marked by red lines, creating a kind of tunnel.
On the top of that we have a Fibonacci retracement. Strongest resistance usually at 0.5 and 0.618 levels.
By drawing these it's easier to tell the entry point.
These levels work as resistance, in this case, and giving you an...
North Korean “Foundation Day” holidays have not brought havoc to the markets. Investors feared that Kim Jong-un could launch an attack or provocative missile test On September,9 in a symbolic show of force against South Korea, Japan and America.
And these fears supported the demand on safe heavens, pushing USDJPY down to 10-month low at 107.31. However, nothing...
It looked like everything was over, and we may have a sigh of relief, as North Korea issue is out of the table, and there are no more topics to pressure USD for a moment. However, Trump keeps providing the market with new reasons to worry.
The other night he said: “If we have to close down our government, we’re building that wall. One way or the other, we’re...
On Tuesday, USDJPY jumped higher rising more than 1.0% and touching 100.84. The first leg higher was triggered by Wall Street Journal article on North Korea backing away from its threat to launch missiles towards Guam. It reduced the demand on risk-off assets putting yen under pressure again.
And it may become the start of a long-term rally given the strong yen is...
USDJPY reached 108.73, the level not seen since June, 14. That was the logical reaction to worse than expected US CPI release.
July US consumer price index came out at 1.7% vs +1.8% yoy forecast, and the monthly growth was 0.1% vs 0.2% expected. This is the smallest increase since March, and 5th month of disappointment in a row.
What does it mean? It means the...