Symmetrical triangle can be seen to have formed, a successful descending scallop has led to this formation. Pretty bullish setup. 200MA will act as support or the downfall for this setup.
Look at the Trend line and the S&R Lines that I drew on the chart. JPYEUR is heading up if it doesn't close below the trend line, if it closes down 0.0082477 the idea isn't valid. Good Luck.
depend the action of the banks and the influence on the market i think the price may go up to fulfill the bank's orders to sell plus there is a wedge on the chart and confirms the idea to JPYEUR's fall
JPY/EUR has hit weekly resistance zone (purple) and on the 4hr created new resistance zone (yellow).
Almost a picture perfect trade again with this double bottom pattern. Target is almost reached now but as we can see there are several resistances now. I posted an update in my channels an hour ago, about taking at least some profits. This trade had no long term thoughts behind it so IMO' i would not focus too much on letting a big size run and simply take the...
Look at my trend lines. You know it must be true.
In my previous USDjpy' analysis, there was a very upwards channel that was about to break. The channel broke and it dumped in 2 waves, similar to this one. Now, it seems this pair has formed a very nice double bottom formation. It looks almost perfect even. Normally the low should be set already, but when looking on the left there is possibly a bit more room to...
Looks like EURJPY is making a bearish wedge here. Only thing which makes me doubt a bit is that inverse H&S at the start of the wedge. So i am going to be a bit careful here. Normally a wedge is a wedge, but in this case i want to see some confirmation first or get an even better entry. So i will get in at one of those 2 yellow circles. A break of that small...
Shown on chart is one scenario that could play out on EURJPY. We are looking for channel and pivot confluence for tight entries + invalidation levels and high reward trades. Horizontals take precedence over diagonals, break below pivot and we have a support resistance flip as the level is reclaimed for selling. Follow for Daily FX and crypto ideas and...
Daily shows a good (temp) low formation and on the lower time frame we can see an inverse H&S. It should not drop below that red zone. Target is in that blue circle. Previous analysis:
In the near future looks like the price will bounce around this price channel. Like this idea if you agree with my analysis.
Bearish triangle. I see the upper trend line holding & MACD turning down. This short offers still good R/R with positive carry.