USDJPY , time to short!

FX:USDJPY   U.S. Dollar / Japanese Yen
92 1 3
USDJPY             currencie is gonna go down.
I would be careful here. You need two known tops to make a trend line. Here, you assume the latest red candle marks a top. Since the body is way towards the top of the wick, it could be profit taking or a natural pullback before a higher high. The price action down is not convincing. Look at 10/28 for a candle that does not draw back much after going down to mark a high. Also, the volume is not great for the red candle compared to the two previous greens. Most tops have at least as much volume going down. If the line were drawn using 9/5 high and 10/28 high, this would be a breakout rather than the top of a channel. All is not lost though. Two things that imply a local top are 6/24 and 7/21. This is an area of resistance. I'd expect a pullback here.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out