AbhishekHSinghCMT
Long

USDJPY- Importance of Support & Resistance-109.75

FX:USDJPY   U.S. Dollar/Japanese Yen
481 10 11
16 days ago
How prior resistance works as support will likely be evident in current case where UJ just moved upside not going below 109.75- prior high

This concept is called polarity reversal.

We need to change counts & be careful of key levels- our key level was 108.80 -which worked really nice & I even said that unless 108.80-108.75 is taken out- we cannot have a bearish bias.

Downside 109.75 can act as support in current scenario which was prior swing high.

What is polarity reversal
Earlier Resistance turns its role into Support or Support acting as Resistance

Connection with previous update- iii-wave is yet to complete & likely will push to a new high, but keep in mind about the zone 109.80-109.75- key zone for us

Holding 108.80- Bulls came back in UJ
USDJPY- At 109.75 will 3rd wave end?

15 days ago
Trade active: 21:13 Hrs 18th Nov2016

Last Price@110.60

I love Green Candles -Do You Love It?- Protect your profits & enjoy the weekend.

snapshot
15 days ago
Trade active: 22:00 Hrs 18th Nov2016

Recent High@110.84

Likely a pullback to the zone 110.40-110.50 staying above 110.35- key level & critical level-110 - we will hold for new highs beyond 11.84

snapshot
15 days ago
Trade active: 22;55 Hrs 18th Nov2016

Current Price@110.56

Recent Low@110.42

UJ moves up from close by above key level@110.35

snapshot
15 days ago
Trade active: 00:02 IST Hrs 19th Nov2016

Its Midnight. Have a nice weekend

Last Price@110.62

Likely holding for a new high in the range 111.10-11.20 with 110.35 key level & critical level-110
13 days ago
Trade active: 07:29 Hrs 21st Nov2016

Last Price@110.81

Booked Profits @111.10 as expected on 19th Nov2016 - Update@00:02 Hrs

Raising the support@110.40- Going above 111-111.05 shall be looking for 111.30-111.40 zone

snapshot
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
+919833996865 | LinkedIn
moursi1972
16 days ago
love that
Reply
AbhishekHSinghCMT PRO moursi1972
16 days ago
@moursi1972, Thanks
Reply
AbhishekHSinghCMT PRO moursi1972
16 days ago
@moursi1972, A simple concept really works wonders at times
Reply
manonmars_17
13 days ago
@AbhishekHSinghCMT , thanks for sharing you ideas, just a quick question, when do you think the usdjpy will head down for a correction leg ?
Reply
AbhishekHSinghCMT PRO manonmars_17
13 days ago
@manonmars_17, Now I am raising support to 110.75. Likely looking for an upside push - we are close by to a top but not confirmed yet.
Reply
manonmars_17 AbhishekHSinghCMT
13 days ago
@AbhishekHSinghCMT, so you think i shouldn't try to sell usdjpy today ?
Reply
AbhishekHSinghCMT PRO manonmars_17
13 days ago
@manonmars_17, Likely it is close to a top. but if it pushes slightly in the zone 111.30-111.40 -best range or sustained move below 110.75- will confirm that its likely has topped.
Reply
manonmars_17 AbhishekHSinghCMT
13 days ago
@AbhishekHSinghCMT, I think the driver of this move is the rising US treasury yields, and the huge bonds sell off, we have to wait for the bonds sell off to finish , i think
Reply
AbhishekHSinghCMT PRO manonmars_17
13 days ago
@manonmars_17, That is out of my purview -what matters to me is price movement.
Reply
AbhishekHSinghCMT PRO AbhishekHSinghCMT
13 days ago
@AbhishekHSinghCMT, Hi, Likely looks UJ is done at top@111.18 so be careful on any longs & need to see how the market reacts going below 110.64 -will confirm that UJ has put a top@111.18
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out