AndrewFx2020
Short

USDJPY - Continued USD Weakness Will See Price Hit the Floor

FX:USDJPY   U.S. Dollar / Japanese Yen
96 0 4
We are rapidly approaching four (4) key levels, which if broken, will result in a minimum 500 pips waterfall. On the weekly chart, between 12/15/14 and 18/01/16, price bounced off a range of around 50 pips (116.082 - 115.561).

If we break this key level, then It's going to be all downhill from here, until price reaches 110.091 (Higher-high 29/09/14).

Finally, Fridays sessions ended with a Doji (https://www.tradingview.com/x/nN8e74zO/). Therefore, the market might be eyeing off this level. Or, on the other hand, this Doji could mean we are about to take off for the 125 level and beyond.

I am going to take a short at 115.40 and ride it down to 110.050.

Regards,
Andrew.
Comment: BTW... I'm not suggesting that this price level will necessarily be broken this week. It looks like we may see a retrace in general bullish USD sentiment and then continue the bearish trend.
snapshot
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
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