Bearish momentum to continue even further, 20 EMA on H4 acting as a dynamic resistance for this pair. We can see it bounce off both the trend line and EMA with a pinbar rejection candlestick.
- Bearish divergence on the H4 using stochastics - Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside - Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
- EMAs crossover on the H1. - 38.2 fibonacci level fulfilled, retracement could be over and EUR/JPY should fly and form a new higher high towards 134.00 region. - Daily support level of 131.81 has held up and price has rejected this on the D1. - Both EMAs acting as a dynamic support on the H4.
3 clear indicators... 1) volume is at its highest since inception of last year's bullrun 2) XRP broke right through the descending parallel 3) rejected exactly at the 200 exp. moving average 4)... could be ending of WXYXZ Elliott wave correction Watch a break through the 200 EMA in green! If so.. this could be the beginning of a serious bullrun Btw, if you...
Price has been trending to the upside, following a very clear parallel channel. Price is now reaching its exhaustion phase and we can see bearish rejection candles forming at the resistance zone. Stops well above the channel, which if triggered will invalidate this trade and a long opportunity will be assessed. 1% captial risk and 6% potential returns.
USD/JPY has formed consecutive lower highs indicating a bear market on the H4. On the daily you can see price bouncing off the daily support of 110.07 few weeks ago and retraced to the 61.8% fibonacci level before continuing the bearish momentum. Price has struggled to break the H4 resistance level of around 111.41, forming spinning tops and dojis with long wicks...
order at 1.6279 T1: 15 pips t2: 30 pips risk 15 pips
Order set at 0.93490 T1: 13 pips T2: 26 pips Risk 13 pips
Order pending at 1.63090 T1: 20 pips T2: 40 pips Stop : 20 pips
The blueish rectangle showing very peculiar price action which took place on the first half of august. This strong bullish movement was wiped out with couple of days and pull it down below the most important support/resistance level for this pair which is 0.02. I can see 2 possible scenarios the pair will be pull down by 200 EMA on 4H chart and most likely 0.02...
order pending 1.62860 T1: 17 T2: 34 risk 17 pips
Order pending at 1.16430 T1: 40 pips T2: 80 pips Risk : 40 pips
Order pending at 143.140 T1: 40 pips T2: 80 pips Risk 40 pips
Order pending at 1.62040 T1: 58 pips T2: 116 pips Risk 58 pips
Order pending at 1.15270 T1: 46 pips T2: 92 pips Stop : 46 pips