CXJV
Short

USD/JPY HEAD AND SHOULDER PATTERN

FX:USDJPY   U.S. Dollar / Japanese Yen

USD/JPY             has formed a head and shoulder pattern on the 1H and 4H charts, indicating that a top has been made and price will carry on its retrace from the last week of bullish gains. Traders should wait for a breakout of the support zone as price tested for support 02/09 12:00 (GMT+1)

We have a supply zone above price and a demand zone from 102.37 -101.72. Expect some choppy movements through the demand zone and possible break through to the 1D support level 99.67.

USD - Chances for September rate hike are getting lower as Fridays NFP was below expectations. Last weeks USD data was a wash with negative and flat data and I don't think this week will be any different.

Thursday - JPY GDP (Q2) data and various others, Positive data and strong yen (currently) will play a huge factor in a bearish move.
Comment: We are on, Weak USD ISM data was the ignition
Too good
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out