Daily candle has hit 5th longterm downtrend. Looking for Sell after candlestick reversal
Confluences: - 4HR EMA Crossover - Rejection of 51 EMA - ABCD Pattern Formation - 71% Fib rejection - 1Hr Spinning tops signalling indecision
UJ has reached the resistance of the downwards trend channel that it has been in for the past month. It show some very bullish price action, breaking through the resistance level quite significantly but this was promptly met with a series of large bearish candles. Price is now meandering around short-term support. Will be waiting for confirmation by way of price...
Trying to gauge a good entry. Price action is confirming that 104.05 is a key price level for this pair.
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Japan recently had positive stimulus news so Yen strength makes sense. We are retesting former lows/support. The 200 moving average lines up with this level on H1 and M30. Market has also broken below the 200 MA and is retesting it. Entered on the close of a consecutive bearish M30 candle off the 200 MA.
- Uptrend breakdown + Pullback - Price rejecting resistance + 0.5 fibo level + 20 & 50 EMAS - Bearish market
UJ is testing the bottom of a massive symmetrical triangle. We already broke the triangle in March but quickly recovered, this time we should see a break for good. This will be invalidated if the upper bound of the triangle is broken. There is still a chance we can bounce back into the triangle before the fall, but the path of least resistance is short.
Currently bullish with slowing momentum. Unlikely to break strong resistance.
US has positive fundamentals with all the vaccine news and positive stimulus talks as well. Technically we have a clear S/R flip or Break and Retest. Rejected between the 38.2 and 50% Fib levels. Broke bearish structure on M30 and H1.
Here on the 4hr timeframe / daily we can see uj made a clear breakthrough to retest previous high points. Will be watching to see to when a pull down finishes to find a long entry if these candles do not got below the previous 4hr breakthrough zone. UJ has been dropping like crazy lately but its uptrend candles can be HUGE if your timing is on point! Safe...
usdjpy posible up side move ready to test support once more then for the up move
Price can possibly go long; Its possible price could be forming an descending triangle on the LTF. And that could push price down to support #2 and even support #3. But overall UJ can go long, price is in an descending channel
UJ has been dropping like crumble in a legal state’s dabber since forever now it seems.. Are these longs going to pay off⁉️ UJ finally finished a day in green with slightly promising looks of a couple hundred pips up move during the next week. If any trend changes when FX resumes after the weekend we’ll be looking for a short entry for the week 📊 Another chart...
COT data (Leveraged Funds) have move positions long in this last week. Asset Managers are still predominantly short. But Daily, Weekly becoming exhausted. DXY strength down overall, but this would be a pullback in the shorter term. See Daily & weekly Situations below. Disclaimer This idea does not constitute as financial advice. It is for educational...
wait for the retest of broken support to enter short