JPY BASKET For basket selling opportunity is high probability due to yearly analysis , sellers are more strong as we have seen 12M candle of 2022 we manage to create all time LOWS and that is where we are heading because sellers are maintaining their selling pressure / opening price are defended
Head and shoulder definition: A simple head and shoulders top formation is characterized by a peak representing
the left shoulder, followed by a higher peak which is referred to as the head of the formation. A lower peak representing the right shoulder is found on the right‐hand side of the head. The head should be the highest peak in the formation. The...
yesterday red candle was not only a retest to a broken bearish channel upper line, but also head and shoulder neckline. in addition to these two confluence we should be aware that JPY index suffers a lot through past month during rate hike cycle of central banks and fall massively like never before.
But now that we have some confluences that we are close to end...
Price is currently forming a bullish flag & expecting the last wave of correction. Then it will perform its new leg up ! Get prepared to short XXXJPY pair !
Price is currently at a discount and approaching a 1H bullish orderblock. I would like to see those Equal Lows taken and for the Bullish orderblock to be traded into, before an expansion to the upside. The Low resistance liquidity would be my first initial target.
Once price has filled my order, I would shout pairs XXX/JPY pairs after some displacement.
Yen Basket has dropped and broken structure to the downside after price was made efficient after mitigating a lovely sponsored candle, price may break deeper so should be seeing bearish JPY short term.
JPYBASKET INDEX - Currently price is indecisive on whether we will see the YEN Pairs weaken.
one to watch especially, we could potentially see an explosive move back down to the downside and make a new Low for the yen
if the YEN doesn't intervene and back its currency against most pairs.
keep a close eye on this INDEX.
JPYBASKET - We will either see a huge reversal or we will see YEN intervention on the forex markets making all the JPY pairs push lower.
one to watch next week.
with the buyers trying to push price to our POI we have establish 2 areas for a possible reversal and we be anticipating for candlestick and reversal patterns in these areas
Overall bearish and we anticipating for price to pullback to the 7520 zone ,look for some buyers exhaustion and we can continue selling...
-inverse to the pair Jpy pairs that why we have shorterm sells on UJ and GJ
last weekly we had a bearish candle close on the daily engulfing the previous day candle(sellers dominating ) and we can see and easy break of daily zone to thedownside
OR
We can have a slight push to the upside to retest the unmitigated daily OB b4 we push to the downside
