MaryJane
Short

Trading near Action Point!

FX:USDJPY   U.S. Dollar/Japanese Yen
553 2 39
3 months ago
After breaking through the illustrated neckline, a double bottom at 99.6 appeared. The countermove is still in tact and we are now trading near the next action point at 100.8 - the neckline and former bo-level. Here a desicion has to be made. From a cyclical view, i would exspect a further downwave as long as we trade below 100.8. Trading below 99.5 will activate the next short signal TP 2 is still 99, than 96.(For more details have a look at my main view)
Anticyclical view. Trading above 100.8 could reach till 102.5

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Supports: 99,6/99.5
resists:101.10/ 101.25-101.44/ 102.2

Last view & comments:
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?
3 months ago
Comment:
snapshot
3 months ago
Comment: Very interesting..
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3 months ago
Comment: mini flag
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Related Ideas

MaryJane
Update Main View:
MaryJane about CL1! 1 3 months ago
TAJIR_B
3 months ago
waiting for action, i think we will move a little up then down
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