IvanLabrie
Short

USDJPY short setup: intermediate term play

FX:USDJPY   U.S. Dollar/Japanese Yen
518 2 14
Jen             is showing signs of strength, while the dollar is topping, displaying climactic action in multiple pairs.
The technicals suggest a decline is in order, and I'd be looking for an entry short on a breach of the highest daily low of the past week.
Options expiration levels revolve around price action as we see the ranging pair bounce off them, containing price action inside a tight corridor.
The weekly chart implies a strong decline is possible, lasting for at least 5 weeks.
The rgmov indicator, from Tim West's suite shows a breach of a trend channel, and rejection at previous support, very bearish signal. It tends to lead price action when coming out of a consolidation, really useful tool.
Market it's taking its time to get out of decision mode.
Looks like we will have to wait patiently for our fill here it seems.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out