A possible short term retest of 109 followed by the base 4 hour trend line base of the triangle followed by a monstrous move to the upside taking out the psychological level of 110 and shooting up to 111.
This is not financial advice.
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=113.35.
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=113.55.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
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...
Head & Shoulders Pattern forming...
Pink box - if price returns back to that area after the H&S formed and hit target then be ready to set your sell limits as thats when the banks put their orders (from the righ shoulder)