shuyatake

Whether It will be Trigger of Short-Covering ....

FX:USDJPY   U.S. Dollar / Japanese Yen
I want to refer to the "RELATED IDEAS".
Yesterday's movement was very easy.
Because broke "SellZone-C" on the short-term, I thought "BuyZone-D" would be support.

However, the movement (Important-Movement Z) that was suppressed in "SellZone-B" of the upper level and eventually Buyer loses becomes important.
From the history of the above, I draw "SellZone-E".

I think that breaking this zone will be the trigger of short covering
also,It suggests the possibility of correction wave end.
In next attack , Breaking through the "SellZone-B"?

Support of the most recent, 107.70 / 71.
If this broken, I take the view of trying lower.
Downside are 107.40 level,same as yesterday.

Downside seems to be Support by trend line in 4-HOURS level.
In other words, the decline in the current situation is only adjustment.

I expect next week.

Thank you.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.