nmike
Long

USD / JPY monthly update

FX:USDJPY   U.S. Dollar/Japanese Yen
2515 9 24
Here I've combined CLONING with TREND LINES .The current candle pattern,which is the first thing I look at, is clearly in a bullish trend . A pull back to one of the red support lines is possible. IF USDJPY             can rise and close above reference channel and clear the nearby trend line , the next near term target is the trend line just above. The DPO (13)monthly above / below mid-point works quite well as a trend change indicator, with some instruments you might have to play around with look back periods.On weekly and daily I usually set it at 21.
update.....well above reference channel & above resistance trend line
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>>>>>trend line resistance HIT
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>>>> interesting support / resistance & candle action for the month of June.We had a bearish CLONE break during June but after hitting a trend line support price found itself back inside green CLONE and above a trend line resistance. Ready to test 102.5 resistance.
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....above KEY resistance
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Crossover does work well
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Big up :) For nmike and 4 uj :)
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....key resistance "1" hit....
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.>>>>....at Key level support
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.....this analysis still valid,just have to extend existing trend lines & S / R levels
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