(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:...
USDJPY - Intraday - We look to Sell at 107.48 (stop at 107.83)
Trades at the highest level in 26 days. Buying posted in Asia. We have a 38.2% Fibonacci pullback level of 107.48 from 112.40 to 104.44. Bespoke resistance is located at 107.40. Further downside is expected and we prefer to set shorts in early trade.
Our profit targets will be 105.70 and...
USDJPY - Intraday - We look to Sell at 105.97 (stop at 106.32)
The rally was sold and the dip bought resulting in mild net losses yesterday. Trading within a Bearish Channel formation. The trend of lower lows is located at 105.38. There is no clear indication that the downward move is coming to an end. Further downside is expected although we prefer to set shorts...