Ardy
Short

Short at 104.635 zone

FX:USDJPY   U.S. Dollar / Japanese Yen
185 1 2
USDJPY             – The US Dollar             is gaining ground against the Japanese Yen             . All looks happy and dandy for the USDJPY             bulls at the moment. Every day is a Sunday and they can smell the flowers while trading on their desk.

But how long can this elevated move in the USDJPY             sustain itself?

If you look at the daily chart above, it is quite clear that we are in a down trend. We can also see that this pair is quite good at making long swings to the upside before crashing down fast an furious to the downside.

I am a realist and I wouldn't mind the USDJPY             bulls having their fun but at the same time, I would want to know how far this move would go. Will it end soon?

Looking back at the chart, you can see two yellow slightly up sloping lines that I have drawn to show where the USDJPY             price might go. At the moment it is very near the resistance line of that yellow line.

The question is would it reverse when it hits that point? Would the anxiety to sell hit epic proportions when price hits that level?

Would we be seeing double tops or triple tops forming at that level or would the price just blast through that level without batting an eyelid?

I am observing closely at the moment and I have even gone on to observe using the lower time frame charts like the 15 minute chart and the 1 hour chart with the hope of spotting some reversal signals on those charts.

Before the signals form, I am still an observer of the USDJPY             .

Cheers!

Ardy Ismail

http://www.forexachievers.com
Nice!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out