Pattern: Pull back on 1D. Signal: Bearish (1) short term to -2.79% from top. Bearish (2) long term if -3.41% from top breaks. Target: TP(1) 109.090, TP (2) 104.800. Successful previous break out from the Triangle:
Pattern: Triangle on 4H. Signal and Targets: Bearish if the Triangle breaks downwards (TP 110.245), Bullish if it breaks upwards (TP 112.500). *Note: First time on 1D that the pattern makers Lower Highs instead of Lower Lows. This enhances the potential of a bearish break-out.
Pattern: Fibonacci retracement to 0.786. Signal: Bearish after identifying a similar fractal on the previous 1W Resistance/ Support levels. Target: 109.000 (just above a -2.92% pull back).
Pattern: 4H Channel Up. Signal: Bullish on its Higher Low. Target: 111.400.
#USDJPY, USDJPY, No change in long $index by last week. professionals are in hedging. JPY shorts trimmed 3k by last week. long% increased 2% while short% decreased 2%.
Usdjpy - H4 - shorts in play down to 110 and possibly 109.30 before going long
UsdJpy - H4 - I see price in a strong weekly supply zone and see a sharp reversal for this pair down to 107.50 and lower if usd weakness comes back into play
After MOD banned my first successful trade i re-publish it with the same text and the continuation: The pair extended its recovery on Tuesday, opening the door for more strength to occur. On the downside, support lies at the 105.00 level, where a break, if seen, will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower...
Usdjpy clearly retest done and make 50% inside bar wait for high breakout and enjoy green pips
The price rejected by strong key level. I do expect price rebound either to TP1 or TP2. I will take both TPs. Good Luck. prntscr.com TAYOR
I hope it is helpful. let's win or lose together Ha ha ha thxx