FX:USDJPY   U.S. Dollar / Japanese Yen
826 4 16
My two favorite setups for the day are the AUDNZD             and the USDJPY             .

Both are showing top patterns with accelerating short momentum after hitting major resistance areas.

The AUD/NZD             is already on the move and currently hitting a previous support zone . It has quite a bit of room to the downside. The previous squeeze on the AUDNZD             with the long wick added good context here.

The USDJPY             also 'feels' like it's ready to top out but the trendline held nicely so far. The latest push into 104.50 and above a previous resistance added some more confirmation to a sell scenario. The divergence on the RSI is also obvious after the latest push.

I explained both setups yesterday as well in my video update: https://www.youtube.com/watch?v=ycbph6XCUnA
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world

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I agree with USDJPY,
Please forgive my ignorance on this one, still a newbie. What are the percentages listed on the left?
Ni_Toni lupufinancial
@lupufinancial those are fib ratios/percentages

Nice set-up T.society
nice! any view on USDZAR based on your 20sma analysis?
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