AnriErikanov
Long

USDJPY LOSING BEARISH MOMENTUM !

FX:USDJPY   U.S. Dollar/Japanese Yen
120 0 8
Ok so let's start off by previous week we had a very defined downtrend because of the strong yen

But now It looks like the trend is losing momentum and got overextended a good time to buy and I see this as a counter trading oppurtunity


I used from a technical strategy the fibonacci levels that I had drawn for you but I kept it simple for you guys.
On The daily it look like price is at an fiboncci retracement level and looking closer there is a falling wedge
wich means bears lose momentum and maybe bulls jump and rise the price to previous support wich is also a 618 fib level

Also notice the underlying strenght on RSI indicating bears are excausted
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 Billing Sign Out