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NFFX
Apr 24, 2015 5:36 AM

USD/JPY - SHORT Short

FX:USDJPY1D
U.S. Dollar/Japanese YenFXCM

Description

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Just another repost of my previous setup but neatened it up a bit!

Monthly

  • Failed to put in a new higher high currently in line with the previous high from 2007

  • 61.8 Fib from swing high to swing low of the complete monthly move

  • 78.6 Fib from the swing high below that level

  • March finished as a spinning top


Weekly

  • MA's are about to cross on tomorrows close

  • Potential spinning top weekly close


Daily

  • Head & Shoulders Pattern

  • Shooting star potential close

  • 61.8 Fib confirmed from previous high

  • MA's still bearish


4 hour

  • Broken Trendline

  • Closed below major support

  • Evening Star candlestick formation


1 Hour (execution chart)

  • Double Top

  • Price rejected the 120.000 even handle
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