USD/JPY Japanese Yen sustain advance against most counterparts on safe-haven demand after global equity drop on Global Economy growth concern Market managed to break below 115.50 zone which add more pressure to sustain advance toward first target 113.60 As short-run sustain trades below 116.00-50 resistance zone expect farther drop toward 113.60 Mid-Run: ...
The primary trend of USD/JPY is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is below 200 day SMA and 50 day SMA indicating downtrend of the pair. It is having an important level of 116.80. If it breaks its trend-line (black line) on the downside and sustains below it then we can expect it to show...
MOST OF THE PAIRS ARE SETTING UP FOR A REVERSAL. i'M STILL LOOKING FOR REVERSAL SIGNAL CONFIRMATION. CAN'T TRADE ALL THESE PAIRS, BUT I'LL STILL POST. PREFER, SELLING RATHER THAN BUYING. AT THIS STAGE IN THIS PAIR, IM EXPECTING THE USD NEWS TO BE BEARISH; HOWEVER, IF IT'S BULLISH IT'S MUCH BETTER, GETTING A HIGHER ENTRY IS ALWAYS MORE PREFERABLE.
POSSIBLE PATTERN IN PLAY FOR THIS PAIR, LETS SEE HOW IT PLAYS OUT.