LADEEc57

$USDJPY - Coiling Up for a Reversal ?

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Price consolidation continues within the symmetrical triangle weekly time frame after failing to breakout above $114.00 double top pattern formation. A break below the 108.50 lows would signal such a move lower, targeting a retest of lower trend line triangle of $106.37 level. Alternatively, next weeks session, we may see a wedge formation pattern that could cause price action to reverse upwards. A breakout above $111.17 would probably indicate a rally to a target of $111.88 followed by a higher push to towards the double top failed peaks. Contributing to this upward reversal would be other factors like weakening prices of EURUSD             , $XAUUSD, $UKOIL . Take out the popcorn bowl, cause this will get interesting.
@LADEEc57 nice to see someone using the same candle colours :)
Reply
LADEEc57 SN_Doumet
@SN_Doumet, LOL! There's something magical about those colors. PS, good analysis on ur USDJPY observation piece.
Reply
@LADEEc57, hahah fully agree with you on that one, I suddenly feel more professional ;). Thanks a lot, appreciate it :)
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out