michele_laino
Short

USDJPY - many bearish signals

OANDA:USDJPY   U.S. Dollar / Japanese Yen
On the daily chart we can see how the price, after a sharply upward move, stops near an important resistance.
After a nice white candle, we can see how the price action shapes a long legged doji , after that it shapes a reversal hammer (not so nice).
Furthermore, these two reversal signals shape a tweezer top .
Thus, we have different reversal signals that can give us short opportunities, so we could take advantage from that by selling US Dollar             .
Using Fibo we could put our TP at 23,6% of the previous swing and a SL above 111.36, for instance at dashed line.
If the price continues its ascent, we can buy when price pierces the resistance line with TP at 123,6% Fibo or near next resistance line at 114,431 price level, whit a SL at 111,442 (the nearby resistance line at current price).
I will happy to see comments and suggestions to improve my analisys.
Thanks.
Comment: We should wait for make some profit with a price correction.
Waiting for bearish signals, maybe on H4 or H1.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out