USDJPY FACING STRONG RESISTANCE Short

FX:USDJPY1D

U.S. Dollar/Japanese YenFXCM

Description

⋅ Mar 19, 2015 8:14 PM

Potential correction down highly probably. Breakout of the target might result in change of trend

Comments

5hmFX

⋅ Mar 21, 2015 4:15 PM

i think so. you are helpful. my target is 118.675.

InvesBursa

⋅ Mar 20, 2015 1:31 PM

Hello, HiTech. Excellent.

InvesBursa

⋅ Mar 20, 2015 1:21 PM

Very good, Excellent. Congratulations.

IvanLabrie

⋅ Mar 19, 2015 8:17 PM

Looks good, I'm in as well, I'll try to cover half when reaching my target and then move stop to BE...it's good for the mind.

CryptoPAMM

⋅ Mar 19, 2015 8:18 PM

but your target is a bit lower... well if we see the breakout below my target, the potential for the downside becomes much bigger

IvanLabrie

⋅ Mar 19, 2015 8:20 PM

Indeed, there is a potentially strong support below, as you can see here:

My target is derived from Tim West's methodology, and includes a time target to reach it.

CryptoPAMM

⋅ Mar 19, 2015 8:30 PM

so we should hit it till the end of next week apparently

IvanLabrie

⋅ Mar 19, 2015 8:34 PM

Or earlier...if we hit it faster than that, I'd suspect we might see a correction before the time runs out, which can be a second short opportunity, or a reversal.