Sell below 114.07. Stop loss at 114.77. Take profit at 112.90.
Reason for the trading strategy (technically):
Price continues to drop nicely from our selling area. We remain bearish below 140.07 resistance (Fibonacci retracement, horizontal overlap resistance). We also tighten our stop loss to 114.77 to protect our profits. Profit target is at 112.90 support...
Price is coming to a daily support zone, from previous formation. Waiting for price to either do one of two things, first come up to .382 or .236 fib level and than look for an entry to continue to the downside. The second is wait for a clear break of the daily support for continuation to the next daily support level.
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Buy above 112.58. Stop loss at 112.21. Take profit at 113.75.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal...
Buy above 111.35. Stop loss at 110.10. Take profit at 113.15.
Reason for the trading strategy (technically):
We remain bullish above 111.35 support (major Fibonacci retracement, horizontal overlap support, Fibonacci projection) for a push up to at least 113.15 resistance (Fibonacci retracement, swing high resistance).
Stochastic (21,5,3) is seeing strong support...
Sell below 115.30. Stop loss at 116.30. Take profit at 111.35.
Reason for the trading strategy:
USDJPY continues to drop nicely and has reached our first profit target from last week. We now remain bearish below 115.30 resistance for a further push down to 111.35 support.
RSI (34) is seeing descending resistance pushing price further down.
USD/JPY having the strongest upward trend.
But, watch the upcoming relatively weak resistance zone.
There are chances that the price will consolidate before breaking the resistance zone again.
If the price breaks the resistance zone, long side will be preferred.
Trade safely with proper risk management skill. :)
