U.S. Dollar/Yen Japanese look bearish in this side very clearly that could to continue drop following the speculating news that I share in my twitter.
We see as first two past bearish candlestick in H1 timeframe forming like a medium bearish candlestick with a down wick and a up strong rejection wick that formed,this it's a strong indication of the bearish movement. Now, use very wide the price action and they help you to define your trade. I will put a sell order limit in $131.92 JPY, Stop Loss in $132.60 JPY and take profit in $130.00 JPY. We have a potential to get 191 pips. This it's a risk/benefit of 1:3.
Tomorrow we have FED chair Powell speaks and Thursday we have U.S. Core CPI (DEC), in the past 2 month came bearish from November 2022 and we hope the following key points to watch here:
Speculating News: 1) Dollar has peaked but set for last hurrah as markets underpricing FED tightening 2) According to Goldman Sachs, U.S. Dollar has peaked, but economist believe that in the coming months before resuming a steeper downtrend as Federal Reserve done for longer rate and isn't yet priced in. 3) A note from Goldman Sachs comment that Dollar isn't likely to revisit the September 2022 highs, after that Dollar has peaked. But it's still likely to experience some phases of strength in the nest 3 to 6 months.
Good Luck!!!
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At the moment, we still bearish side. We see a little consolidation in this zone of the price action but I hope that this movement become bearish in H4 as the last formation was a bearish hammer inverted indicating resistance by bears to sell in this zone.
Keep shorting in H4 timeframe.
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In H1 timeframe there're some indecision in the candlestick, but that could be a track that there's a fight in this zone between bears and bulls.
Trade closed manually
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Market structure explained here in my new analysis. I put in long in USDJPY
I put the SL in $132.99 JLY and take point to $130.00 JPY. And I enter In $132.38 JPY
harisonhbn9718
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Re entry in short. USDJPY confirm I this zone bearish resistance in thisbzone. That will be our smart point there. Is not bullish, it's still bearish aide
harisonhbn9718
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Another chance could be that USD goes bulliah for some point specify in the resistance above
harisonhbn9718
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Still pending as this could be another re-÷entry to short