Hey guys, I can see the opportunity right here.
First of all, looks like the chart is forming a Bullish Bat Pattern. Secondly, USDJPY is currently at the descending tunnel with all resistance and support levels almost perfectly parallel confirmed. Support 2 (see the chart) confirmed with a historic resistance level formed at 10.28.2016! So it seems like if USDJPY continues the Bat Pattern forming its final downside line (which I think is limited down to 105.5 price level) then we will see a consequent bounce off of this area (105.5 - 105.8) up to 1st Target of 107.650 (Exactly where the letter "C" is located). Aroon UP is loosing its power over Aroon Down which suggest a local reversal.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!
First of all, looks like the chart is forming a Bullish Bat Pattern. Secondly, USDJPY is currently at the descending tunnel with all resistance and support levels almost perfectly parallel confirmed. Support 2 (see the chart) confirmed with a historic resistance level formed at 10.28.2016! So it seems like if USDJPY continues the Bat Pattern forming its final downside line (which I think is limited down to 105.5 price level) then we will see a consequent bounce off of this area (105.5 - 105.8) up to 1st Target of 107.650 (Exactly where the letter "C" is located). Aroon UP is loosing its power over Aroon Down which suggest a local reversal.
Please REMEMBER that I give you my observations, you form your own opinion and trade it accordingly!
Please NEVER forget to do your own research before considering any investment. Fundamental analysis is also crucial so you have to read the news, updates and about the upcoming events related to a particular blockchain project.
Hope you will find my analysis useful! Stay safe ----> Hedge ----> Diversify ----> Be cautious! - Together we will beat the market!
Comment:
Still can drop further way down
Trade active:
Pattern completed. BUY now