Further analysis on the FX:USDJPY .
We can see the bearish gartley completing the final leg before what I think will be a quick retrace before we start moving up again.
We have had a higher high higher close this morning on the 6am candle which has broken the downward trend we have been seeing, breaking out of the wedge shape.
I've just started to learn elliot...
USDJPY at 114 levels is looking to hit back down around 112 zone, before another up-leg.
It is currently developing Bullish Cypher Pattern as well Bear Crab Pattern Completed.
Looking to see a good DIP from here to 112 levels..
In febo this week we will demand to 11.05$ to clear the RISE of pear
for now is in danger zone ( no trading ) zone
we whait broke 100
in hole photo the pair willing to have long
USD/JPY
Japanese Yen sustain advance against most counterparts on safe-haven demand after global equity drop on Global Economy growth concern
Market managed to break below 115.50 zone which add more pressure to sustain advance toward first target 113.60
As short-run sustain trades below 116.00-50 resistance zone expect farther drop toward 113.60
Mid-Run: ...
The primary trend of USD/JPY is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is below 200 day SMA and 50 day SMA indicating downtrend of the pair. It is having an important level of 116.80. If it breaks its trend-line (black line) on the downside and sustains below it then we can expect it to show...
Four years bull trend is being now challenged by a top breakdown with a retest of the support turned resistance.It is also confirmed by several indicators so I expect USDJPY going down to 10X levels in a matter of weeks or maybe some months. A rather dense chart, but that is just for the sake of the long term view (everything here, of course, is only my opinion,...
At important announcements/changes in policies like the one today where BOJ implemented negative rates, it usually takes some time before the market sinks in the implications and positions accordingly.
Currently, it is evident based on technical levels that USDJPY has touched the 116 important neckline (head & shoulders).
Also, because of the surprising policy...
Hi everyone!
I would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you.
I see USDJPY sitting at the resistance zone which combine WR2 and DR2 pivot point cluster.
This might be seen as potential take profit zone and zone where bears would sell.
Hi all, please see this chart first, and press the "load new bars"/play button and see how it played out:
I recently took notice of such formations and have come to appreciate its usefulness.
RATIONALE:
When a pair trends in a certain direction, and such a formation forms, it usually indicates indecisiveness/loss in momentum of the prevailing trend,
because...
