My overall bias on EJ is bearish.
Initially, price found support at the monthly/weekly support zone.
Price then began to make a series of higher highs and higher lows, which serves as confirmation that price was an in uptrend.
Then price met resistance at the daily resistance zone.
The daily resistance zone also correlates with the purple trend line and...
I am looking to short NZDJPY.
Originally price was making a higher highs and higher lows.
Price then entered the monthly/weekly resistance supply zone.
Price than formed what appears to be a double top, and price has been unable to break through.
Also a double top at the end of an uptrend can serve as a bearish reversal pattern. That along with price...
Eurjpy has been a strong uptrend lately. The catalyst to this strong move to the upside was the Inverse head and shoulder that formed.
Price broke the neckline of the IHS which also served as a level of resistance. Because price broke this level, it will now serve as support.
The break of the neckline caused price to create a new high (or higher high).
Once price made it's last push to the upside, it made the bearish impulse as expected. I was looking for price to make one last bullish impulse, then create a bearish candlestick formation before entering a sell. Check out the previous analysis below:
As you can see my overall longterm bias for AUDJPY is bearish. But im expecting a push to the upside, before the next drop.
Price created a new low, and now im expecting price to retrace and test the previous low, meeting resistance then create a bearish continuation move to the downside. Bear
Price appeared to have broken the low during the previous month. This monthly candle appears to be a retracement or a retest of that level. So far it a look as if price will respect that level and may be signaling it's setting up to make a large push to the downside.
The weekly time frame show a double top, with a retest to the neckline, price also met...
Japan has been sacrificing for over 26 years.
I’m looking on a reverse head and shoulders monthly chart.
Dollar is weakening , the money printer in the US is overheating from printing more and more currency. BTC is on the rise, OCC turned the light green for banks as custodian of crypto currency, did the USD/JPY knew this in advance? Take a look at this monthly...
We have lots of fun stuff going on here. Price is heading into previous structure and resistance zone which have proven itself several times in the past. We have a bearish gartley just about to reach its D completion - which in turns comes very close to the previous, broken, bullish trendline which also should act as resistance.
Looking at the hourly...
End of the bull run
Global Equity Indexes:
1. SPX/ Global Equity indexes in the past 2/3wks saw a post-brexit central bank easing induced rally, as many CB released dovish statements following the vote which spurred investor confidence in fresh easing.
- IMO much of the bull run was based on BOJ easing hopes, given the size of the economy (4th largest)...
I have already entered this trade but I still think there is time. This year the SNB are going to be actively trying to weaken their curreny and the China slump will cause safe heaven flows through the JPY so overall downside is expected. Learn to trade like a pro boafx.com