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...
Are you that blind you cant see a good level of support forming? if you are then F#ck you... I mean 4Q haha.
But honestly if you are looking for 100000000000000 chart indicators just to seek clearance from a chart then go away... all you need to do is keep it simple!!! All these so called GURUS or MENTORS..... they are funny!!!!!!!! making you believe that...
USD JPY , is about to explode for one of the directions! We can see that we are consolidating around 109.831-110.00.
At this moment a clean break of the trend line will take us to 110.350 or even 110.600.
However a daily break of 109.70 can take us to the lows of 109.050.
This is a trade that you do not want to miss!
All of the best
Numerous factors of confluence for a short here; Interacting with the Daily descending trendline, as well as testing a liquidity zone on the 4H. We have seen the ascending trendline tested multiple times I am anticipating a break to the downside soon, however I will close 50% of this trade when we do interact with the TL and watch price action to see how its...
Is USDJPY diving back down to 112.600 area to grab some liquidity, only to return back North again/ Looking left at the chart on a 4hr this can be seen many times. Busy day today & tomorrow fundamental wise, let's see if this 112.600 holds, could be a possibility of a break down to 112.450 for a stop hunt before positive news takes affect...
USD/JPY could be on its way towards 112.600. 20 & 50MA actually look like we could spike towards them region, but I am going against this and as the trend shows we could be heading towards this zone once again.
UJ in my perception seems to be in a bullish trend until 114.200 resistance zone. Price respected the 0.618 Fib retracement and at this point we are at .50 fib region. I will consider to enter a Buy position depends on the market opens.
Let see if we can reach our Main Target Fib ext -27% and Daily resistance zone.
Neutral view at the moment, as we had a break of the ascending trendline on Friday with a retest of this trendline just before market close. Moving averages were set to cross but this could just be a fakeout. The daily timeframe shows a very close rejection of the same ascending trendline, however price has ranged since the end of April. Daily candle close Friday...