SYM: USDJPY-H4
Time: 2020/04/26 00:00:00 UTC
Trend Analysis
This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.
• Trend’s Analysis
Term Trend
Short (STTL).................... Mid Bearish
Mid (MTTL)..................... Mid Bullish
Long(LTTL)..................... Strong Bearish
o USDJPY_H4 broke below the Mid Bullish-LTTL1, at 107.978, 58 candles ago. This is a Bearish sign. This broken downtrend line may now provide upside resistance. Volume on the candle of the breakout was quite heavy (28% above average).
o USDJPY_H4 broke above the Mid Bearish-LTTL, at 107.533, 29 candles ago. This is a Bullish sign. This broken downtrend line may now provide downside support. Volume on the candle of the breakout was quite light (60% below average).
o USDJPY_H4 broke below the Strong Bullish-LTTL2, at 107.643, 22 candles ago. This is a Bearish sign. This broken downtrend line may now provide upside resistance. Volume on the candle of the breakout was quite heavy (30% above average).
o USDJPY_H4 broke above the Mid Bearish-MTTL, at 107.619, 19 candles ago. This is a Bullish sign. This broken downtrend line may now provide downside support. Volume on the candle of the breakout was heavy (83% above average).
o The most recently confirmed downtrend line in long term for USDJPY_H4 is Strong Bearish-LTTL, and we will expect that price has some difficulties to fall below this trend line. A break below this trend line (particularly on heavy volume) would be a Bullish sign.
o The most recently confirmed uptrend line in midterm for USDJPY_H4 is Mid Bullish-MTTL and we will expect that price has some difficulties to break up this trend line. A break above this trend line (particularly on heavy volume) would be a Bearish sign.
o The current market condition for USDJPY_H4 is: Bearish
• The close is currently below its 200 periods moving average.
• The close is currently below its 90 periods moving average.
• The close is currently below its 30 periods moving average.
• Supports and Resistance
o Supports
Price Power
107.570..................... Weak/A
107.225..................... Mid
107.048..................... Weak/A
106.813..................... Weak/A
106.530..................... Weak/B
o Resistances
Price Power
107.792..................... Mid
107.976..................... Mid
108.317..................... Mid
108.459..................... Strong/B
108.588..................... Mid
o USDJPY_H4 broke below the downside Support level of 110.23, 129 candles ago. This is a bearish sign. The previous resistance level of 110.23 may now provide downside Support. Volume on the candle of the breakout was not that heavy and provided no convincing evidence as the validity of the breakout.
o The most recently confirmed downside Mid Support level for USDJPY_H4 is around 107.225, and we will expect that price has some difficulties to fall below this level. A break below this level (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed upside Mid Resistance level for USDJPY_H4 is around 107.976, and we will expect that price has some difficulties to break up this level.
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