USDJPY has formed a triple bottom, hugely respecting the 111 level. We also have a fibonacci 61.8% on 110.4, so the zone 110.4-111 works as a really strong support. The price is also respecting the TL from 2013, making the current zone really strong and the pair would need a huge momentum to push the price below these levels.
The TPs are based upon fibonacci and...
The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support.
The gains in the US Dollar came about as various Fed...
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
This is one of the most important pairs to keep an eye on this week. There are rumours that BOJ intervened during the last week when price touched 110.67 levels. This is also significant technical level where price is just above yearly S2 pivot...
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Recent move ended up in profit.
Price is now at the Daily 21 EMA that should act as dynamic level of resistance and spark short term correction for next 3 days. I'm looking to join bullish move at around 113.250 levels.
Stochastic would need to become oversold and price would continue on its way up from...
