MaryJane
Short

USDYPY formig an bearish H&S?

FX:USDJPY   U.S. Dollar/Japanese Yen
565 2 42
4 months ago
USDJPY             reached the 38.2 fibo retracement of the last downswing (105.6-100.6). Here the rebound stopped. The ultrashorttermtrend turned bearish again. At the moment, we are trading near a possible action point (blue). this level @ 100.6-100.8 is the level to watch! Here a desicion has to be made imo.

Trading below that level should initiate a further downwave down to the longtermsupport 100 - Here i exspect a temporarily rebound.
The RSI signs a weak bullish signal, so that we can exspect, that a right shoulder can be formed before the "real" dip will come.
Trading above the "shoulder"-level is bullish . The market could decide to aim the maximal correction level fibo 61,8 @ 103.71. The neckline @ 100.85 is also a part of the "action point".

Supports: 100.87 / 100.6
Resists: 102.54 / 103.71 / 105.36

Other ideas or comments are welcome - Agree or disagree

Former View:
Longterm:
SHORTCHANCE BELOW 105?
Shortchance below 105?

If the pair would trade below 105, i see the possibility for a further downwave.
First TP of the short is the former low @ 100

Shortterm:
ADJUSTED VIEW: NEXT SHORTTERM DOWNWAVE AHEAD?
Adjusted View: Next shortterm Downwave ahead?
3 months ago
Comment: again tested the action point -the bought it again!!! So if we will brak through that level at 100.7-100.9, i exspect a very fast and strong downmove
snapshot
3 months ago
Comment:
snapshot
3 months ago
Comment: reached tp1
snapshot
3 months ago
Comment: We are trading near the action point at 100.8 - the neckline and bo-level. Here a desicion has to be made. From a cyclical view, i would exspect a further downwave as long as we trade below 100.8. TP 2 is still 99, than 96. Trading above 100.8 could reach till 102.5
snapshot

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LOOK Lke over sell
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