The Bank of Japan is wrapping up its two-day policy meeting today, and the decision it announces at the conclusion could have huge ramification for Japanese markets and the yen. There is currently intense speculation that the bank may shift from its current path of ultra-loose policy, or at least offer some guidance concerning future moves. Let's look at the...
We expect that the price will drop to the support level. As expected, the chart has a sell signal after double top pattern. Also, MACD shows us that the price will drop. Entry level: break below the neckline Target level: shown in the chart
Time Frame: 4H Symbol: JPYUSD Entry: 0.006974 TP: 0.006848 SL: 0.007072 Bias: Short For this instrument our core bias is short as we see the strength of dollar prevails over the strength of this currency. The study of support and resistance also show a positive expectation for shorting opportunity.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007041 TP: 0.006899 SL: 0.007150 Bias: Short The current price pattern is displaying a bearish bias and we can expect a selling opportunity.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We do not have any strong bias here. We stay therefore neutral.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We are neutral for this pair. We do not see any strong directional bias.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We do not have any directional bias for this instrument . We stay neutral.
Time Frame: 4H Symbol: JPYUSD Entry: 0.006912 TP: 0.006701 SL: 0.007053 Bias: Short We are searching after a short opportunity though the price action suggests a mediocre opportunity.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007012 TP: 0.006882 SL: 0.007127 Bias: Short An obvious trend for this is bearish and our goal is to go after the current bearish drive.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007142 TP: 0.007133 SL: 0.007231 Bias: Short A selling pressure is prevalent and it will sustain next few weeks.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We do not have any strong directional bias for this instrument .
Time Frame: 4H Symbol: JPYUSD Entry: 0.007209 TP: 0.007095 SL: 0.007277 Bias: Short For this instrument we are planning a short trade.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007232 TP: 0.007125 SL: 0.007320 Bias: Short The trend is downward and our goal is to find a selling opportunity from the current price context.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007211 TP: 0.007076 SL: 0.007314 Bias: Short We are thinking of a selling opportunity considering the dynamic support and resistance.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We do not have any bias for this instrument today.
Time Frame: 4H Symbol: JPYUSD Bias: Neutral We are neutral for this instrument.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007279 TP: 0.007133 SL: 0.007388 Bias: Short We plan a sell trade considering the bearish market structure.
Time Frame: 4H Symbol: JPYUSD Entry: 0.007292 TP: 0.007131 SL: 0.007399 Bias: Short The bearish bias is obvious and we can explore a selling opportunity from the current price pattern.