USDJPY reversed off its resistance at 105.587 where it could potentially drop further to 104.274.
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Market has been in a range for quite a while -
- Sellers were able to push prices downwards beyond the support and reached the 104.200 level, a retracement followed to the past support area & now resistance also is 61% area in the Fibonacci . Buyers tried to break that area but it holds strong and seems to be heading down again to the 104.200 support...
THE PRICE IS AT STRONG RESISTANCE LEVEL WHICH WAS OUR PREVIOUS SUPPORT
AFTER RETRACEMENT I EXPECT THE PRICE TO MOVE MORE TO THE DOWNSIDE FOR
THE COMPLETION OF N FORMATION
COMMENT BELOW WITH YOUR IDEA
- Price reaching our lower low and showing some bullish strength, we would like to see a break of our resistance trendline followed by a retest in order to enter long.
- Shorts only if the price breaks our lower low.
- Preço a atingir o nosso lower low e a demonstrar alguma força bullish, gostaríamos de ver uma quebra seguida de um retest da...
USDJPY is currently consolidating at the crucial 105 level. The downtrend appears to have come to a halt as of now.
Note that 104.60 level is very strong support on the weekly chart from where USDJPY has reversed to the upside multiple times in the last few years.
If the buyers can keep the price above this level then there's good chance that USDJPY will go to...
Good Day Everyone
Here's a look at USDJPY, the pair broke out of a ascending channel pushed up a bit still overbought on most indicators so possibly could still push up a bit or maybe to retest the structure then continuation to the downside look for short opportunities on the pair..
Good luck and happy trading...
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Price action was able to register a healthy correction in the intraday. From a broader look at D1, price's tested a strong psychological support level that might indicate a forthcoming upward momentum.
Technically speaking, the chart clearly shows a bullish bias. However, sometimes fundamentals weight more than technicals. Today the DXY, opened with a robust...
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