Update: Channels Interact; Define Reversal Potential | $USD $JPY

FX:USDJPY   U.S. Dollar / Japanese Yen
283 3 2

A quick Tech-Note here.

Last week, we offered two new bullish targets (here: https://www.tradingview.com/v/82yKkbOI/), and renewed the bullish outlook with a cautionary technical word on a probable interim rally (here: https://www.tradingview.com/v/ctOy3BSx/).

At this time, price seems to have found a potential discreet technical support at the crossing of two bullish momental channels - See circled highlight in chart. Translated in Fib language, this would line up quick nicely with a bullish 0.382 level.

More on this as we maintain our skywards gaze.


David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting

PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark ), or other well known patterns. However, we concentrate mainly on Shark , 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.

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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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David Alcindor
Predictive Analysis &Forecasting

- All signals, analyses and forecasts are for educational purposes. Do your own due diligence. Use TradingChart.com to share your analyses with me or friendly traders on the site.
I'm currently looking at this support


Following long entry is high-risk and is not suited to the trader who fails to apply his own due diligence. The trigger for the long entry lacks a bullish market reversal confirmation. Only an early market reversal sign was used to define this trader's long entry.


Trader: Bullish
System: Neutral to bullish; pending signal confirmation


Entered LONG @ 102.595
- Short-term target: 103.641
- Long-term target: 105.345

David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado, USA
Risk of price continuing current downdraft to 101.999 remains high until bullish market reversal confirmation occurs.
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