Head and Shoulder not completed, so wait til next structure. EURJPY BULL Pressure for a while, following YEN bullish hungry, correlated with USDJPY and GBPJPY. Follow lines to short and long positions. Have a good Trading week!
USD/JPY has posted considerable gains on Tuesday, as the pair trades at 110.60 in the North American session. On the release front, Japanese SPPI remained at 0.8%, edging above the agreement of 0.7%. Over in the US, we’ll get a look at two key events. CB Consumer Confidence is expected to improve to 123.7, while New Home Sales is forecast to edge lower to 590...
The yen seems to be losing steam, and the dollar seems to be setting up for a surprise play of strength. We have bounce pretty strongly off a 38.2 retracement level which seems like a solid set-up for more bullish momentum, however, the volume hasn't really been there to support it. As a result, we could either continue to make our way towards the resistance line...
The dollar looks to be looking bullish. We have already began to pick up, and could continue, however, we may get one final dip before we are ready to go.
My first prediction on USDJPY was correct. But i believe price will continue its massive downtrend to head and touch 111.90 support area.
This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... .zip (with PDF`s) @ my Google Drive Performance in percent while this periods (1482 Cross-Rates) drive.google.com Best regards :) Aaron
short idea,USDJPY uptrend mometum nearly gone,so I am going to prepare for the short move
After an incredible ending for the USDJPY, rallying crazy with no deceleration, it has now formed a double top on the daily chart. Giving us an oportunity to catch a downside move with a profit at the 112 level. If a flag gets formed there, we would see a major retracement to the 106 level, but if it rejects it hard, we will se another test of the 118 level. Hope...
USDJPY, EDU SETUP. READY FOR ACTION AFTER WEDGE BREAK Entries as it drawn.
GBPJPY price stalled at support area and formed the formation I call "The Box". Usually, it foregoes a bigger move, so when the price exits this yellow rectangle, we may see it going fast towards next support or resistance area.
Even though I was expecting 108 and 109 to be tested...that never happened. Dollar bulls are now on the run. This could see further lows but there are many good reversal points. Im currently waiting for fundamental intervention as to shift the sentiment to the upside again. Thank you for any feedback...means a lot.
Usd/jpy inverse head and shoulders, look at that risk reward, great opportunity for a position to ride up to the base of the head and shoulders, take profit along the way if your not a long term trader
Target 1 : 103 Target 2 : 100
Gold against the strongest currency (Yen right now) will give us insights as to how Gold will do against other currencies.