BitterSweetMarkets

The JPY/BGN currency pair are at a critical level (area)...

FX_IDC:JPYBGN   JAPANESE YEN / BULGARIAN LEV
7 0 2
The 0.01530 level (area) is critical, the first red arrow shows the market respecting this level during June 2013, April 2015 the same story although we are now in an uptrend and the weekly trendline support (blue line) clearly shows this. But what's interesting is the behavior during February of 2016 as this level is tested once again. Inside the green shaded circle we can clearly see a breakout, however the first week shows an inverted umbrella candle otherwise known as a gravestone doji .Suggesting perhaps the bears resurfaced during the week to regain control. If more downside is the case then the green circle would be the area where stops would have been taken out, as sellers placed there orders around the 01530 area. Its also common for this circled area to be the appearance of a premature breakout, and a re-test of the trendline support will give a clearer indication of where this market is going. A break below is a sell signal, whereas a break above the highs of Feb would be a buy signal.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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