USDJPY is approaching our first resistance at 111.42 (horizontal overlap resistance, 50%, 61.8% Fibonacci retracement) and price might drop to our major support at 108.12 (horizontal swing low support, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching our resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries ...
USDJPY moved as we expected it to. Our long trades made good profit and we are now looking for the entry to the downside. We can see an impulse down to A on the left and then a 3 wave corrective structure up to B which has now broken to the downside. I am looking for a retest of the structure for a short entry where my target will be C which should break the ...
USDJPY is approaching our first resistance at 112.09 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 108.49 (horizontal swing low support).
Stochastic (89,5,3) is also approaching our major resistance and a reaction off this ...
USDJPY reversed nicely off its resistance at 110.90 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where price could fall to its support at 109.53 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where it still has a lot of ...
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USDJPY just started moving as expected, quick Timeframe breakdown for free and everybody.
4 HOUR
50 Pips H4 Candle break below previous week lows, strong move.
DAILY
After taking out 111.400 last week we instantly reacted to that with strong daily bearish price movement melting down
WEEKLY
Second very bearish weekly movement ...
From our analysis, It seems the pair broke out from the long term resistance inside the channel and Divergence found in stochastic
So, It is expected to be bearish until the expected target@value110.105
Sell below 110.90.
Stop loss 111.39.
Take profit at 109.95.
Reason for the trading strategy (technically):
USDJPY reversed nicely off its resistance at 110.90 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect price to fall to its support at 109.53 (100% Fibonacci extension, 61.8% Fibonacci retracement, ...
Hope this idea helps!
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USDJPY is testing our first resistance at 110.83 (horizontal overlap resistance, 78.6% fibonacci retracement, 61.8%, 100% fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 109.94 (horizontal swing low support, 38.2 fibonacci retracement, 61.8%, 100% fibonacci extension).
RSI (89) is also approaching ...
This pair has been in this descending channel for three years, with one major fall out in 2016, re-entering the highs of the channel Dec 2017, and we're now approaching the higher edge of the channel with either a move lower inside the developing Head and Shoulders pattern, after a move up to 110.5 - 111 or we break out of the channel, for a much bigger move to ...
USDJPY is testing its resistance at 110.61 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse off, causing price to fall to its support at 110.00 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching resistance at 97% where ...
Price is testing our first resistance at 110.83 (horizontal overlap resistance, 78.6% fibonacci retracement, 61.8%, 100% fibonacci extension) and might drop to our major support at 109.94 (horizontal swing low support, 38.2 fibonacci retracement, 61.8%, 100% fibonacci extension).
RSI (89) is also approaching our resistance where we might see a corresponding drop ...
