As we have seen in the past couple days, the Japanese Yen pairs has been in absolute beast mode, providing really good opportunities to go long. Now, GJ is giving us ideas of what the next target might be in the next couple of days.
Price broke below a significant area of support. If price tests that new level of resistance and respects it, we have a really nice set up to the downside with a tight Stop to capitalize on for next few days. Happy Trading Everybody.
BROKE STRUCTURE. RETEST RIGHT NOW, ONLY WE A CLEAR REJECTION OF THE TRENDLINE JUST BROKE, IT COULD BE A REALLY GOOD LONG OPPORTUNITY WITH GAINS UP TO 400 PIPS, BUT WE'LL HAVE TO SIT IN THE SIDE LINES UNTIL RETEST IS DONE AND CONFIRMED.
WEAKER THAN EXPECTED, KIWI; ONE OF THE WORST PERFORMERS OF THESE 2 WEEKS SO FAR. WE ARE IN A DOWNTREND, BREAK AND RETEST APPARENTLY COMPLETED, LOOKING FOR SELLS DOWN TO MAJOR DEMAND ZONE.
We are below the MA's so no reason to look for shorts on this pair. CAD has had really good data and we can see actually CAD pairs responding to this. Target would be 1.54 if it breaks below the current support zone, and since I trade with the trend, I would have a my SL in accordance with my MA's
BE PATIENT ON THIS PAIR, WE HAVE A VERY RESPECTED CHANNEL, WE CAN SEE THAT PRICE ALWAYS BOUNCES AND SHOOTS UP LIKE A ROCKET ONCE IT TOUCHES THE BOTTOM TL. PATIENCE IS KEY ON THIS BUSINESS, DONT ASSUME IS GOING TO GO UP, THATS JUST A POSSIBILITY, THERE ARE NO ABSOLUTES ON THIS MARKETS, BUT KEEP AN EYE REVERSAL PATTERNS, CANDLESTICK PATTERNS. IT MAY TAKE SOME TIME,...
WE CAN SEE BULLS HAVE TAKEN OVER THE US D. BROKE THE WEEKLY TRENDLINE, ALSO DAILY. REMEMBER THE WAY THE MARKET MOVES, THERE IS A PUSH AND EXHAUSTION. KEEP AN EYE ON THIS FOR SOME PROFITS.
