USDJPY, I said we see a move to first resistance and sell down. I was right for the first part but wrong on the second; market nicely came down to PZ, then rallied to first resistance, sold back down to PZ for a good 50 pips and held there for hours before the US data resulted in another rally up. The levels itself are enough to make you money. But anyway, so...
i gave you the move from 143.80 to 144.60 yesterday on almost 0 MAE. () HOD was 144.61 and market pulled back, although only slightly. TBH price action is bullish, how to fade this? But 144.60 is an important resistance. I would say I am not bullish JPY but looking for DXY bearishness. Look for break of 144.30 for a move to 143.95 and even 143.40
Yesterday, I drew a triangle () and price was within my PZ. I said price to go down but almost immediately flipped my view to go long from the PZ which worked out perfectly as that was the bottom, giving a 3R trade. PZ proved to be a powerful zone as market made a second dip but was just bought up. 143.72 holds, 144.62 is target. A possible trade here is long...
USDJPY nicely followed the path I gave yesterday () , dip down from PZ to the BZ and came back up. I was short AUDJPY which played out well, but today it seemed that DXY will have a down day. USDJPY is still in a consolidation in a triangle type formation. But I am looking for a down in USDJPY thus on break of the PZ, expect further downside to 143.06 and 142.90...
On Friday, I said PZ hold, 143.84 is next (). Despite the negative news, this was what happened exactly and market traded up 100pips from PZ and then it pulled back. This morning, price tested the highs, but broke down to bottom of PZ perfectly before bouncing to top of PZ now. Short term price action is slightly bearish. Watching rejection of USDJPY at 143.54...
DXY printed a rather bullish candle yesterday. And that should provide further upside for today. Indeed, that BOJ news seem to be a trigger for that, as DXY went higher. In terms of price action, yesterday's candle looked like a reversal candle which could trigger further downside today(as it did now) but at the same time BZ could act to hold the bottom. Given...
DXY is strong and expect it to continue to be strong. EURUSD is within monthly BZ but expect daily BZ as resistance. Would like a spike to 1.0716 for a short down to 1.0662 (yesterday's low) and even 1.0636. Short 1.0704-1.0716 stops at 1.0730 target 1.0662 and 1.0636 with a R:R of 1.5-4
Market came down very slight yesterday, and was supported at PZ, forming a tweezer type of candle. Similar move this morning with the down move to test yesterday's low but now market 20 pips higher. USDJPY is weaker but overall, yesterday's price action is not a clear reversal candle. Possible move for today, IMO (with important AUD news later); the thesis would...
AUDUSD is strong on Friday despite DXY strength and closed green. But price hit the monthly BZ and pulled back. Today it opened below the 3 zones but just above daily BZ. Price already made the down move and is now at 0.65936 support. Hold here and look for a retest of 0.6640, while a break lower will see a move to 0.6574 and 0.6524. IMO, I am bullish dollar,...
I was bearish dollar yesterday and said to look for longs at around 1.2381. DXY still ended the day green (due to EUR weakness) but GBP is strong and despite the deep dip, closed green. But that candle stick could be a hanging man (reversal candle)? The body of yesterday's candle is rather wide so it remain to be seen if that could be the top. Today's candle is...