Hey there, traders! 🌟 Let's delve into the tricky landscape of dollar yen – a setup that demands our attention. The overarching trend suggests a bullish journey, but buckle up, because there are twists ahead. 📈
News flashes about the potential Bank of Japan (BOJ) intervention and the recent wastewater stir have stirred the pot. 🌊⚖️
For the conservative trader, a week of observation might be prudent. But for those risk-savvy, why not seize the day? When big news lurks, colossal movement follows, and with the right risk management, why not chase those opportunities? 💼💰
Gazing at the weekly chart, we spot a retest at the previous high – a pivotal zone for the week. The tantalizing prospect of a break and close above this high tantalizes for a continued rally. But guess what? Immediate resistance lurks nearby. 🛑📊
In the grand scheme, to sustain a bullish trajectory, the magic number is 152.02 on the weekly chart. 🚀
Shifting to daily charts, the high gets retested with a sly RSI divergence – a whisper of counter trend play, perhaps?
Now, for the four-hour setup, a familiar pattern – retest, RSI divergence – all hinting at an intriguing possibility.
And guess what? The one-hour chart mirrors this with its own RSI divergence dance. 🎭📉
For the curious minds eager to learn trading nuances.
Now, let's revisit our trusty weekly chart and unfurl our analysis on Dollar Yen. A bearish bat pattern beckons a shorting venture at 149.40. Daily chart enthusiasts, the confirmation for crab pattern enthusiasts swings by at 150.45.
Are you eyeing a buy? Retest the immediate support at 144.65 for a potential entrance.
Zooming into the four-hour chart, ABCD pattern aficionados can keep an eye on 147.79 for counter trading maneuvers.
Buying prospects? 144.62 or 144.02 could be your calling.
Remember, when the market respects these levels and avoids sinking further, it signals the support's sturdy stance. 🏗️
And oh, the sweet RSI divergence on the one-hour chart – a touch of icing on our trading cake. Once 146.55 gets a respectful tap, I'll be diving into an aggressive counter trade. 🚀