USD/JPY on the Bearish Path Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Oct 15, 2020 12:04 PM

🔸4H CHART EXPLANATION:
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🔸Price bounced at the Daily Resistance Zone.
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🔸It has broken the Ascending Trendline.
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🔸We can observe that this pair has been moving on a range for the last months, but now we can see a clear structure broken to the downside.
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🔸 The first bearish target of this move is the Support Zone at 104.300.

🔸DAILY CHART ANALYSIS:

Comments

lestersteenbok

⋅ Oct 16, 2020 6:03 AM

how can i change my chart from line to bar?

ThinkingAntsOk

⋅ Oct 16, 2020 12:16 PM

@lestersteenbok, at the top of your chart you should see a tool bar where you can change it

Nurshakillallla

⋅ Oct 16, 2020 2:16 AM

Nice explanation

ThinkingAntsOk

⋅ Oct 16, 2020 12:16 PM

@Nurshakillallla, thank you!

TheTradersAvenue

⋅ Oct 15, 2020 11:39 PM

great work!!

ThinkingAntsOk

⋅ Oct 16, 2020 12:16 PM

@TradingAxis, thank you!

VasilyTrader

⋅ Oct 15, 2020 7:46 PM

USDJPY is very interesting right now!
Check this:

ThinkingAntsOk

⋅ Oct 16, 2020 12:16 PM

@VasilyPonomarev, nice view Vasily! Agree.

ProjectSyndicate

⋅ Oct 15, 2020 3:05 PM

I agree with you. Setup looking good so far. Breakdown and rejection at key technical level.
Expecting more selling to kick in on Friday.