Sell below 114.56. Stop loss at 114.95. Take profit at 113.22. Reason for the trading strategy (technically): We look to sell at 114.56 resistance (Fibonacci retracement, Fibonacci projection) for a push down to 113.22 support (Fibonacci retracement, horizontal support). Stochastic (21,5,3) is seeing major resistance below the 94% level and also displays bearish...
Sell below 113.95. Stop loss at 114.95. Take profit at 112.56. Reason for the trading strategy (technically): We remain bearish below 113.95 resistance (Fibonacci retracement, horizontal resistance) for a drop down to 112.56 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance below the 94% level.
Buy above 112.60. Stop loss at 111.35. Take profit at 115.30. Reason for the trading strategy: USDJPY has bounced nicely off our support at 111.35 previously. We now remain bullish above 112.60 support (Fibonacci retracement, horizontal overlap support) for a further push up to 115.31 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34)...
Sell below 113.95. Stop loss at 114.95. Take profit at 112.56. Reason for the trading strategy (technically): Price has reached our profit target perfectly. We now turn bearish below 113.95 resistance (Fibonacci retracement, horizontal resistance) for a drop down to 112.56 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing...
Buy above 111.35. Stop loss at 110.10. Take profit at 113.15. Reason for the trading strategy (technically): We remain bullish above 111.35 support (major Fibonacci retracement, horizontal overlap support, Fibonacci projection) for a push up to at least 113.15 resistance (Fibonacci retracement, swing high resistance). Stochastic (21,5,3) is seeing strong support...
Buy above 111.35. Stop loss at 110.10. Take profit at 113.15. Reason for the trading strategy (technically): We buy one last time above 111.35 support (major Fibonacci retracement, horizontal overlap support, Fibonacci projection) for a push up to at least 113.15 resistance (Fibonacci retracement, swing high resistance). Stochastic (21,5,3) is seeing strong...
Buy above 112.55. Stop loss at 112.00. Take profit at 114.00. Reason for the trading strategy (technically): We remain bullish above major support at 112.55 (Fibonacci projection, multiple horizontal swing low supports) and we expect to see price make a bounce above this level towards 114.00 resistance (Fibonacci retracement, recent swing high resistance,...
Buy above 112.55. Stop loss at 112.00. Take profit at 114.00. Reason for the trading strategy (technically): Price bounced nicely and reached our profit target before retracing strongly. We remain bullish above major support at 112.55 (Fibonacci projection, multiple horizontal swing low supports) and we expect to see price make a bounce above this level towards...