USD/JPY Weekly Outlook 27/1/2020 to 31/1/2020

Forex Weekly Outlook 27/1/2020 to 31/1/2020
Pair : USD/JPY

Weekly - Rising wedge chart pattern
with rejection from the major trendline
from June'15

Daily - Possibility downtrend until below
rising wedge trendline.
Then, wait for bounce or break scenario
with the potential TP
as the same high of the rising wedge

H4 - Graph currently rejecting 0.382 Fibo level.
Expecting some retracement before bearish continuation

To do : Waiting for break or bounce scenario at H4 38.2 level area

Gambate!!

Comment:

H4 - Graph currently rejecting 0.382 Fibo level.
Expecting some retracement before bearish continuation.

27/1/2020 Monday 7am : Price open with huge exhaustion gap.Two entry possibility;
1. Wait for retrace to previous SBR area around 109.200. Can place PO SELL
2. Wait for Monday closure

Comment:

28.01.2020 Tuesday 9am : Daily close as doji.
PO Sell at 109.200 area

www.tradingview.com/chart/ki5cHdov/

Trade closed manually