USDJPY in an upward trend since mid Jan.
USD is fundamentally Bullish. JPY is Neutral/ Bearish.
109.74-109.84 zone is strong resistance structure with both a Down Trend and Horizontal Trend confluence. Two rejections since 26th March.
Alerts set on both sides
Awaiting price action to confirm direction of the break out.
Will seek; Candle to close...
Price setting up for a bullish continuation.
- Price is in an up trend - Above 200SMA
- Price at 38.2% Fib
- Price inside a Support Zone from 1.684x
- Psychological level at 1.68500
- Both EUR and NZD fundamentals are bearish
- Wait for further price pullback in to the 1.682x level.
- Seek candle confirmation of a...
High probability that GBUSD will continue downwards.
8h Chart shows the following confluences:
- Overall bearish trend - Lower Highs/ Lower Lows. Price below 180SMA.
- Price hitting a respected downward trend line
- Price hitting a physiological level @ 1.38000
- Price hitting the Fibonacci golden ratio
- Last candle was an Evening Star (although need to see one...
Potential high value USDJPY Reversal?
Confluences for a reversal:
- Price has been in this descending channel since Mid December, and this is the fifth touch leading to a red candle
- Pricing is also hitting well respected horizontal resistance
- Psychological level 17 pips above high @ 110.000
Factors against a reversal:
- USD is Bullish
- Price is...
- USDJPY growth hitting a strong period of resistance following circa five weeks of bullish action since 27th Jan.
- Price fall yesterday, and a Hammer Candle on the 1 day chart today.
- Could this be the beginning of a retraction? Will seek confirmation tonight/ tomorrow.
USDCAD - Double Top reversal to the downside?
Price has hit a meaningful level at ~1.3418, which has both been been significant in the past plus now has the 200 close by, and price has bounced off nine times since the 24th Sept.
If price retests this high I will enter short seeking 50pips to the downside, seeking RSI confirmation below 50 (down trend).
GBPUSD price action being squeezed between the EMAs from the top, and support at 1.26971 level.
I expect price to drop from the current ~1.27403 level down to support, circa 50pips.
Direction of the anticipated explosive breakout from the squeeze is unknown - with an overall downward trend versus clearly strong support beneath - so hope to be there to catch it.
I'd like to see price action move up to resistance at 0.913x, for a reversal short down 80% towards support. Would ideally see confirmation of Ouverbought on RSI and/or Stochastic, and/or MACD confluence of the downtrend.