the chart posted was done over a week back it is and will unfold to cause a major bubble top
CADJPY reached the MA50 (1d) for the first time since May 4th. The pattern is a Channel Up and this correction since its top, still has room to go before bottoming. Trading Plan: 1. Sell on the current market price. 2. Buy at the bottom of the Channel Up and above the MA100 (1d) at 102.550. 3. Sell if the MA200 (1d) breaks. Targets: 1. 102.550 (bottom of the...
CHFJPY reached the top of the 1 year Channel Up by exceeding the 2.618 Fibonacci extension and as the 1W technicals turned overbought the last two weeks (RSI = 69.506, MACD = 3.780, ADX = 64.451), it is an indication that we should start selling. During the previous long term correction (September 14th - January 13th) inside this Channel Up, the price had a...
I'm expecting a retracement from this pair soon. it's massively over-bought, that said I think it will push up to just past 110 to meet resistance before it does. I've got my alerts set at 110. Being over-bought is not a determining factor, we can see that recent previous high levels were more overbought than they are now, before retracement. I can also see that...
AUDJPY is on a 3 week selling streak with the 1D time frame just turning neutral (RSI = 45.648, MACD = 0.510, ADX = 43.673) after more than a month in the bullish zone. The price is approaching the 1D MA50, where you can buy on a 2-3 days basis but we mostly focus on getting a sell on that bounce and target the HL trendline (TP 93.100) near the S1. Further selling...
Japanese Yen has been one of the weakest currency in the last couple of months. But, looking at the JPY Futures chart, we can see it finishing a larger A-B-C corrective decline, while it's trading at the support, which can cause reversal and recovery for the Japanese Yen. Even COT data of the japanese Yen shows extreme levels for Large speculators (green). It...
USDJPY "Bearish scenario" could be activated after crossing under 143.900 "Bullish scenario" will be valid after breaking the trend line
Price looks like its struggling to break through the key level, after momentum was lost yesterday, and price reversed to the downside, this looks like a pullback before further downside momentum continues. As the Asia session is close, and yesterday they bumped the yen, I expect more of it to continue.
Hello Traders! On The Daily Time Frame, The AUDJPY Reached a Strong Resistance Level 📈 Currently, on 4H Time Frame, The Price Formed a Triple TOP Pattern📉 i'm waiting for a neckline break! Then, we will see a huge bearish move📉 ----------- TARGET 1: 107.710🎯 TARGET 2: 106.890🎯 ___________ if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
EURJPY broke and closed below a solid horizontal demand zone on 4H. The broken structure turned into resistance. Retesting that, the price formed a double top pattern on an hourly time frame. Its neckline is now broken. I expect a bearish move to 156.0 / 155.6 levels. ❤️Please, support my work with like, thank you!❤️
EURJPY hit the top of the long term Channel Up that started more than a year ago (March 2022) and is getting rejected so far. With the 1D technicals still green (RSI = 63.286, MACD = 1.680, ADX = 49.495) this indicates that the trend remains bullish so we will sell and initially target the 1D MA50 (TP = 153.000). The reason is that it has been unbroken since April...
CHFJPY is trading inside a Channel Up in the past 4 months and right now turned sideways after hitting the top of the pattern. This is a Higher High sell signal which has a triple level target. Trading Plan: 1. Sell on the current market price. 2. Buy at 157.500 and as long as the RSI (1d) holds the 53.50 Support. Targets: 1. 157.500 (the 0.5 Fibonacci, Rising...
Multiple time frame analysis for USDJPY. Price action & key levels. Trading plan for FOMC explained. ❤️Please, support my work with like, thank you!❤️
NZDJPY hit the top of the 3 month Channel Up on a peak formation that's the same as the previous Higher Highs. This is a prime candidate for a short position considering that the 1day RSI also displays a Bearish Divergence. Sell and target the 1day MA50 at 86.750, even though the pull back can extend as low as the 0.618 Fibonacci based on the previous Channel Up...
I'm expecting further strength for the Aussie this week, and weakness from the Yen against it, so I'm looking for a long. We may fall-back to the 38.2 fib but then I think we'll see a strong move upwards, breaking out of the bull flag. We've seen this retracement as the pair became over-bought, but we now seem clear for a continuation upwards. I'm keeping a...
Hello Traders! On The Daily Time Frame, The AUDJPY Reached a Strong Support Level 📈 Currently, on 4H Time Frame The Price Formed a Falling Wedge📉 i'm waiting for a breakout of the Resistance line ! Then, we will see a huge bullish move📈 ----------- TARGET: 97.470🎯 ___________ if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
No surprise, GBPJPY is trading in a bullish trend. However, after the price reached, 183.77 level at the end of June, the pair started to consolidate. The market formed a cup and handle pattern on 4H time frame. Its neckline breakout will be a very strong trend-following signal. 4H candle close above 183.88 will confirm the breakout. A bullish continuation...
CADJPY held again the 4hour MA50, which has been providing rebounds for the 1 month Channel Up with breaking since June 1st. Buy as long as the price stays over it and target the September 13th High (Resistance A) at 110.600. Sell if it breaks under the MA50 and target the 4hour MA100. The 4hour RSI is holding its Rising Support. An additional pivot level to...