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)
We're looking for a huge push tonight when the eco data is released, if as expected JPY should weaken massively at 1:50GMT while the USD is pushing for the bullish momentum once more. This should be enough to break the 110.370 resistance area.
- bullish cypher pattern
- bullish bat pattern
- not entered as of yet as I'm waiting for a 4hr candle confirmation
- expecting a strong retrace to the 618 fib set from the cypher pattern D leg
- will trail my stop once its in motion
- RSI oversold
- ASL will be 40 pips
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...
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...
On this pair, price has struggled to break through daily support (110.757) which I am assuming could lead to a strong bullish reaction. If we look at the daily timeframe for this pair, a lower low has been created in the current downtrend which also suggests price could now be ready to rise. I will be trading this up to the major daily trend line. We may have a...
Economic uncertainty with Trump, US equity market at an all time high so room for downside increasing strength in the JPY, Currently in a bear trend and looking to hit key support and resistance area dating back to November after the US election once Trump was voted in and the US Dollar started to gain strength. 3% Stop Loss in place just above resistance bear trend line.
currently short usdjpy. we have recently rejected the two above fibs 3 time now and have put in a 1 hour strong bearish close below the counter trend line, also closing below previous low in the process. i am targeting 110.00 key level which coincides with the range we have previously broken out of.