I believe that USD/JPY will continue bearish at market open. Monday morning market open is always risky but I believe my analysis holds a strong case for it to remain bearish. Firstly on the 5 minute chart, we see a engulfing bearish candle with the overall session pushing to the downside. We are also trending below the 50 MA which to me indicates a continuation...
- Break of ascending trendline - Lower highs, lower lows - Double top - Rejection of 0.618 FIB - Rejecting 50MA on the daily
- Break of ascending trendline, forming lower highs and lower lows - Rejection of 50MA and 0.786 FIB
- Lower highs - Rejection of trendline, 200MA and 0.382 FIB - Failed to close above 50MA on the daily
NZDJPY is one foot on the path to strong daily resistance (dark blue). It stopped there twice and it also respected the level in history. Let us see what it does. I would like a little bearish Monday opening to get a good price and kickstart the upwards move mid-through the day. Pinbar makes it unlikely to get 50 EMA price, but on an intraday basis, a good long...
This is making its U-turn, it takes time for this big cruise to turn around and head to north pole for Xmas. changing direction of its mid-term and long term down trend. 50MA crossed above 200MA recently Consolidating after strong reversal patter short term consolidation triangle is getting too small. Volume shows perfect time for a break out
- Higher highs and higher lows - Pullback to the ascending trendline which lines up with the 0.382 FIB - Also lines up with the 1 hourly 50MA - Previous resistance has turned into support
- H&S formed, and price broke through it - Want a pullback to the 0.382 FIB which is around the neckline area - That would line up with the 50 and 200MA on the 1HR - Rejections of those would be a good indication to go short
- Break of ascending trendline with a large bearish move - Break of 50MA - Looking for pullback to retest the 50MA, trendline and/or 0.382 and 0.618 FIB
- Higher highs and higher lows - Trendline rejections and 0.618 FIB along with 50MA on 4HR - May look to buy if we get slight pullback to 0.382 FIB, which lines up with 50MA on the 1HR
- Break and retest of descending trendline - Lower Highs, lower lows - Pullback to 0.618 FIB and 50MA will be looking to go short
- Strong bullish candle on the daily, with a break of the 50MA - Break of descending trendline on the 4HR - Looking for pullback to 0.382, ideally further down to the 0.618, lines up nicely with the MAs on the 1HR and 4HR
- Higher highs and higher lows - Pullback to the ascending trendline which lines up with the 0.382 FIB and 50MA - Rejection of this would also line up with 1HR 200MA
- Break of ascending trendline - Weak dollar - Rejection of 0.786 FIB, trendline and 50MA
- Higher high and higher lows - Rejection of trendline, 0.618FIB and 50MA - AUD strength and Dollar weakness
Hi Traders! The market is in an Uptrend. As you can see the market is at a Daily Resistance. That is the barrier it has to BREAK to reach the next Level. This idea is a combination of a "Bounce and Breakout". These Structure Levels are supporting the idea: The (pink) Trendline which is giving Support and giving pressure to the price. The 50 Exponential...
- Lower lows and lower highs - Below MA's on all timeframes - Rejection of 0.382 FIB - Failure to close below 50MA on the 1hour
- Break and restest of descending trendline - Forming new uptrend, with higher lows - Nice wick rejection off the 0.382 FIB and 50MA