USDJPY Downward Channel (Step Down) April 12, 2017, Friday
Observation:
Price moves in a Downward Channel.
Bears is in control.
No sign of bull candlestick pattern.
Price near dynamic support.
Analysis:
If price breaks dynamic support of downward channel, there is high probability for price to slide down, short.
If price retrace at dynamic support & imitate previous move, LONG & TP at middle dynamic resistance.
Conclusion:
High opportunity for both LONG and SHORT.
Price moves in a Downward Channel.
Bears is in control.
No sign of bull candlestick pattern.
Price near dynamic support.
Analysis:
If price breaks dynamic support of downward channel, there is high probability for price to slide down, short.
If price retrace at dynamic support & imitate previous move, LONG & TP at middle dynamic resistance.
Conclusion:
High opportunity for both LONG and SHORT.
Comment:
106.701
Comment:
But price still have a strong Ace card, the dynamic support of downward channel.
Price have probability of bounce there at it's current price.
Need to watch on Monday for more signal confirmation.
Price have probability of bounce there at it's current price.
Need to watch on Monday for more signal confirmation.
Price would probably drop on Monday and play at the (red box).