This one took a long time to understand. We are in the C wave to the upside. It looks like have finished a doubly long correction for the 2nd wave of the C wave. < Please check out the long term view. I explain something important there about a degree mix up
USDJPY, EDU SETUP. READY FOR ACTION AFTER WEDGE BREAK Entries as it drawn.
Last week bears were able to hold price under 101 support level while testing 99 level. With 3 touches into what i believe is a support zone we should see a rectracement into the 38.2, bears were able to hold and retrace all levels on fib which signals to me more that this is bearish (also seeing lower lows), we should see price falling to 95 support with a...
Looking for retracememnt up to 0.618 fib level of recent move from 101.15 - 99.53. Strong support in 100.93 - 101.16 area :- Previous high 10 EMA on daily time frame which has held as resistance for long time 200 SMMA on 30 minute chart which has held as resistance for long time 0.500 fib level of move from 102.65 - 99.53
bears seem to be in control as they continue to print lower lows and holding the fib levels along with support and resistance and demand zones. just the analysis based off my other chart set ups. as long as price continues we will see reversal at 38.2 fib on the demand zone
Traders please see previous usdjpy signals to understand how well we have been trading this pair... it has finished the leg down to 99.5 before moving up to 110... we played the leg down, now time to enjoy the train north. all eyes on the BOJ for intervention, and September looks like it is still very much in hiking mode. congratulations to those who caught it...
usdjpy continues to move downwards and it is clear to see bears have control. bulls failed once again to break the last high and we continue to make lower lows. should price continue on there is a high chance for a 3rd entry point before our final fall.(see other trades)
With 100-101 level being a very strong support from 1992, 2004-2005 , there is a very likely chance we could see a retraacement to the 101 level before reaching the next support at 95.000 area. if so there is very likely possibility to get in on a short at the 101 level. (see other trades for short idea)
We are probably in the 4th wave of a 5 wave structure. Therefore the price has two confluence zone where it will retrace. I guess it will be the 2nd confluence zone which will end the 4th wave to start wave 5 down.
Last week bulls tried to make a recovery and pull price up from support and past the next support but failed. Bears were able to hold the 38.2 retracement as well as well as bringing price back down into major support area (101). as price continued into this area we can see it touch the demand zone and make another reversal up but bears once again were able to...
As usdjpy continues to make its move down that started back in February, price has repeatedly failed to hold any support, i.e 116 area 111 area and 105 area . price continues to climb down as we can clearly see bears are pulling the market down. we can see this happening as we seen bulls try to pull the market back up above 105 area but only reached the 107...
I posted an idea earlier speculating the end of bearish movement in this pair but after trying the bottom resistance once more, we are heading the same direction we initially predicted. Am expecting upward movement at least to the channel, then we shall observe price action, if we break the trend line we are long term buyers, if not then we might head down once...
Downward correction can continue for a short period. Growth tendency remains. Price is trying to remain below the level of 102.30 (23.6% correction). Short positions can be order after the level of 101.85, (descending 50% fan line, middle line of BB) is broken down. Return to AUG lows 100.68. If price rebounds from the level 102.30, it cud grow to 103.26...
waiting for the decline in the resistance area to go long.
On the Daily Chart, Tenkan-sen line is above the Kijun-sen line. Red-line is horizontal, while blue line is directed downwards. Confirmative line Chikou Span is crossing the price chart from below, current cloud is descending. Instrument is trading below Tenkan-sen and Kijun-sen lines; bearish trend is still strong. One of the previous minimums of Chikou Span...