Potential double-bottom pattern. If price stops at the minimum of today we will have some potential bullish movement till the first resistance. Then, if this resistance is broken , the double-bottom pattern will be confirmed and bullish movement will appear till the 4h resistance.
There is a double bottom forming on the H1 chart, price has run into a major trend line on the daily chart supporting this long, buy a break of the neckline targeting 138.20
I got asked to analyse this pair.
EurJpy is running into a very important zone.
The 115.00/116.00 level is very crucial, and i think in the shortterm we will see a bottom forming in this area.
Now the question is what will happen in the french election.
I dont know. I guess Macron will make the race, everything speaks for this outcome, but nothing is sure as we...
Long USDJPY for targets 250 pips Targeting 112 zones as next targets
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Thank You and Trade Safe
Regards,
Dipak Z
I think the long term trend of bullish gold/yen may be in beginning stages of reversing. On a daily chart, the KYT indicator has turned bearish. The M.F.I gave an amazing overbought signal earlier this month, but I still believe we will see this pair head lower. I look for the supportive Gann angles of around $1360 to be hit.
Chart of the day: USDJPY. Safe-haven buying kicked in heavily Tuesday, also giving a boost to other local Asian currencies. Geopolitical unrest levels have risen substantially over the last few weeks: Syria, N.Korea, Russia and this has led to a move to buy those 'safer' assets. Gold, Yen all should benefit from the uncertainty.
On the Kagi chart the Yen is now...
After the missile launch by Trump the Yen gained strength, however it doesnt seem like it gained enough strength to bring this pair lower. Indicating to me that this UJ pair is probably going to go up. We just have to wait for this line to be broken and retested. If it is broken, we can see price going back to 115.
I will take this setup on EUR/JPY when all things are in place. So what we see on this chart is strong support in longer uptrend, RSI is holding it's line and Fib should hold it's level on 0,618 for bounce up.
Hey traders, I like the yen short this week and potentially the weeks to come. Many EW counts leading to continued downside. Details and wave count on chart. Cheers
It has met its first target already. Expecting some pullback or consolidation to happen first. From there we can see if Yen would have strength for another run.
There are several divergences on volume on way up. There is also increasing volume on down swing. This is bearish change behaviour. I expect move down on Yen future. It means on forex pair USDJPY.
I see a weekly low test rejecting the weekly 51EMA, that lead to an intraday double bottom giving price momentum to break and retest the H1 51EMA. A break and close above 111.5 will present weekly tweezer bottoms for the following week. Lots of upside potential
Pound repeats pattern of 2008/09 crash.
That means British economy is in crisis already.
It was mainly caused by Brexit referendum.
Drop in GBPJPY will continue until 2019/20
