after two profitable trades on this pair, let's see if this winning streak continues.
The level we are looking on is always the same daily resistance. Price now is consolidating; usually in this condition patterns breed.
This time is Gartley's turn to appear.
Stops above X, targets as usual for patterns.
If you have any question, don't hesitate to...
i've just exited my position on USDJPY for a profit of 120 pips, but that doesn't mean i cannot reenter the same pair again if i have reason to enter the market.
And this is precisely the case: we are heading back to retest the double top's top and we are still in the same level of daily structure (black line). Price broke to the downside the previous...
this analysis starts from higher timeframes. As you can see in the attached analysis i predicted usdjpy was coming to test this level some days ago. Now at this level we have a major structure daily level (black line) with a couple of fibonacci levels for confirmation.
Another confirmation comes from RSI, that has a divergence on the last highs. In the...
As we are all aware, USDJPY has defied gravity recently, and I am pretty sure a lot of people have been stopped out at various points expecting a reversal.
I am hopeful for a reversal now, however not ruling out a further stretch upwards.
the chart on the right is daily, whereas the left is H4.
On the daily chart see how the price didn't significantly break...
Taken two trades on this pair, many confluences to say it will become bearish. Firstly we have a Bat Pattern that is retesting the d zone, aswell as previous head and shoulders pattern after a bullish impulse leg indicating a reversal in the trend. Hope to see this trade play out, just need patience.