MaryJane
Short

Reached Action Point- Here a Decision has to be made!

FX:USDJPY   U.S. Dollar/Japanese Yen
627 4 46
Only Trading above the Right shoulder will brighten the bearish Chart

last view:
USDYPY formig an bearish H&S?
USDYPY formig an bearish H&S?


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

Main View:
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
Comment:
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Comment: next Action Point ahed...
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Comment: Yellen Power
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Comment: yihaaa...
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Comment: wow
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Comment: reached Action Point!! Crazy..
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nice analysis probably next week we have a decision due to low momentum and fed news ahead
Reply
time to close the long ? i think it will touch the gap, then will move higher
Reply
MaryJane TAJIR_B
i for my personal also think we are near a topbuilding in this tf..lets see..i am still surprised that we did not go through the supprt and made a new low..
Reply
TAJIR_B MaryJane
yahhh looks crazy,i agree if i see a bearish sign i will reduce my position
Reply
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