USDJPY (4H) - medium term bearish bias
While the US dollar is making an attempt at the major daily resistance of 109, the uptrend seems to have lost its momentum. The RSI failed to produce a higher high to reflect the bullish price action. This is a warning sign that buyers have taken profit and become hesitant to commit more chips on the table. The demand zone...
. There is a possibility of temporary retracement to suggested support line (108.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. There is a divergence in RSI and price between the trough at 106.775 on 2019-06-25 and the trough at 104.45 on 2019-08-26, the probability of...
(This is an idea) after playing around.
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:...
Potential triple top on daily time frame forming on the pair, drop has been anticipated for some time and is now testing a key level; should it break through we could see it approach 110 on the long term.
JPY safe haven
USDJPY - Long
Possible bullish bat pattern forming
Completion down at the 105.000 even handle
TP1 - 38.2 Retracement
TP2 - 61.8 Retracement
TP3* - Wherever u want it to be or just let the position run as long as possible.
Any questions feel free to drop a comment or a message and il be happy to help.