We can see that USD/JPY pair is declining. We are seeing that the USD is weakening and causing a strong USD/JPY movement. The USD fell hard against the yen on Monday as we got back from the weekend. We have hit a small support and might see a small pull back (potential for an entry). Keep your SL tight if you are long. That being said, I see the pair breaking down bit further but right now the biggest issue is going to be the 106 level.
Thanks!
Please leave a comment, criticism or some feed back!
HELLO, BEFOR THANK YOU FOR YOU EFFORT .
I THINK YOU'RE RIGHT THE USD/JPY WILL TRY TO GAIN SOME POSITION AND THE BUYERS WILL TRY TO DO SO WISH THEY WILL FAIL NOT ONLY AT THE 105.65 BUT MAYBE MORE TILL THE 106.15, WISH IT WILL MAKE THE HEAD AND SHOULDERS PATERN BAFORE BREAKING DOWN TO THE NEXT SUPORT LINE.
AS I ALWAYS SAY "IF I'M RIGHT AND OF COURSE I'M WRONG"
GEE92
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@fjgc6zhhjy, Thanks for our feedback! Let's make money on the short.
Hatimlk
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@GEE92, exactly the point i predicted , but that doesn't make me right .
GEE92
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@fjgc6zhhjy, Yeah you were spot on! That is awesome. I did not see that head and shoulders pattern. That was a good read.
I THINK YOU'RE RIGHT THE USD/JPY WILL TRY TO GAIN SOME POSITION AND THE BUYERS WILL TRY TO DO SO WISH THEY WILL FAIL NOT ONLY AT THE 105.65 BUT MAYBE MORE TILL THE 106.15, WISH IT WILL MAKE THE HEAD AND SHOULDERS PATERN BAFORE BREAKING DOWN TO THE NEXT SUPORT LINE.
AS I ALWAYS SAY "IF I'M RIGHT AND OF COURSE I'M WRONG"