USDJPY - A downtrend is looking for support to lift again
current STOCHRSI reading:
Weekly (16.57, 35.36) - very close to oversold
Daily (67.74, 82.30) - Overbought, turned around on 15 Feb.
4HR (9.08, 7,80) - extremely oversold
1HR (16.09, 48.25) - diving down deep in just 2 hrs time
According to these reading, I have reason to believe USDJPY need to go south further down, it it can found support around 111.80, then a new up trend possible to come next.
The new potential uptrend can go above 118 and ahead to 120 .
Weekly (16.57, 35.36) - very close to oversold
Daily (67.74, 82.30) - Overbought, turned around on 15 Feb.
4HR (9.08, 7,80) - extremely oversold
1HR (16.09, 48.25) - diving down deep in just 2 hrs time
According to these reading, I have reason to believe USDJPY need to go south further down, it it can found support around 111.80, then a new up trend possible to come next.
The new potential uptrend can go above 118 and ahead to 120 .
Comment:
so far it looks like USDJPY is founding support at 112.76 level.
Tonight is a Friday night, so I decide to enter the market around this level when the market open again on next Monday.
so far it looks like USDJPY is founding support at 112.76 level.
Tonight is a Friday night, so I decide to enter the market around this level when the market open again on next Monday.
I am very interested to found out.
Currently watching closely to its 1HR to see how it developed when support is found.