Firstly, As per seasonals, USD is bearish for the month of April.
Secondly, As per seasonals, JPY is bullish for the month of April. also at base Support.
Furthermore, USDJPY has also printed LH after Bearish engulfing candlestick. this could result in a huge Bearish Fall.
Tool Box:
1. Dow Theory - First LH Printed - Bearish
2. Candle Sticks - Bearish Engulfing at TOP - Bearish
3. S & R - Rs 123-126 Range has played as Strong Resistance Zone 3 times Earlier.
This Range could be considered a Strong Resistance which could result downtrend. - Bearish
4. Trendline -
5. Fib -
6. Chart pattem -
7. Seasonals and Timecycles - USD Index reflects Bearishness as per seasonals. JPY reflects Bullishness as per seasonals.
8. Divergence - RSI has given Divergence - Bearish
Secondly, As per seasonals, JPY is bullish for the month of April. also at base Support.
Furthermore, USDJPY has also printed LH after Bearish engulfing candlestick. this could result in a huge Bearish Fall.
Tool Box:
1. Dow Theory - First LH Printed - Bearish
2. Candle Sticks - Bearish Engulfing at TOP - Bearish
3. S & R - Rs 123-126 Range has played as Strong Resistance Zone 3 times Earlier.
This Range could be considered a Strong Resistance which could result downtrend. - Bearish
4. Trendline -
5. Fib -
6. Chart pattem -
7. Seasonals and Timecycles - USD Index reflects Bearishness as per seasonals. JPY reflects Bullishness as per seasonals.
8. Divergence - RSI has given Divergence - Bearish
