Amazinghong
Short

Bearish on UJ, Awaiting Confirmation

FX:USDJPY   U.S. Dollar/Japanese Yen
73 0 4
3 months ago
UJ bullish momentum continue with dollar in strength, Overall stock market bullish and lead to traders and investor shift out their position in safe haven and lead to jpy further weakening.

The price has come to 110.X level where multiple resistance is awaiting it to challenge. From 4 hours time frame we are able to see the bullish momentum has lose steam, demand is unable to cope with the supply while the bears are slowly marching in to push the price back to its once resistance and see whether the price can find its demand there.

108.3-108.4 will be one of the key fibo retrenchment to look at before it test 107, 200MA and see whether the support can hold. Most likely consolidation will occur at 106 to 109 area before Fed annoucement happen.
3 months ago
Trade active: The 111 area resistance break and now tested 114 area. Seem like a failed attempt, waiting confirmation to short before it retrace back to 111 area.
Like me on Facebook, https://www.facebook.com/AmazingTradingAcademy2/

My website,
https://amazingtradingacademy.com

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out