Important for me is a move above 111.60 thats when i will probably move stop to breakeven and let it go higher. 112.00 should be a reasonable target.
We should not see any close below 110.70 anymore, this idea fails if we break lower.
Best of luck and please use proper risk management, never risk too much on one single trade.
as we see currently the price are moving in compression movement which might need a little bit more of force before boosting out.
We expecting the investor are currently looking for a good price and opportunity to purchase pound ahead of article 50 which will be triggering on 29 march 2017.
thus, we will long this pair at 0.5 lvl and 0.382 with projection target...
Ultimately a carbon copy of the USDJPY set up; the strengthening of the yen has produced another bearish 5-o movement. We have a solid support at 112.5 which has now been broken; price action dictates that a retest of resistance at the former support level would produce a bounce- at which we will enter and take profit at the C(4) point.
Just like before, within...
After hitting resistance at 118.6, price has been in a downwards trend. Admittedly I have recently been looking for setups that support a bullish dollar and retest resistance at this level. This has not happened and I have decided to look at the potential set up that continues the weakening of the dollar and this trend's downtrend since the beginning of the year....
The instrument has hit major support zone. Previous resistance lines also turned supports at current level. RSI at ~30.
SL @ ~111.25
TP1 @ ~112.50 for 1.15:1
TP2 @ ~113.65 for 2.85:1
TP3 @ ~114.90 for 4.75:1
I was having an incredible sushi here in Johannesburg tonight, when I got to the hotel and saw my set up already gone. Normally I would just forget about it and find another trade, but I am short on this. I don't care if it has already gone. I am on this trade.
Decent 1.8 RR.
Have a good week all.
On Friday the CADJPY broke below the 84.60 handle. This level supported the pair on December 5th of last year but had more recently attracted buyers on February 28th and March 9th.
Today’s high of 84.61 illustrates a retest of this area as new resistance. And last week’s breakdown suggests that we could see prices continue to slide lower over the next few...
FX:USDJPY broke the 50DMA once again and looking bearish in my opinion. The breakdown and downtrend is also supported by the moving averages on the hourly timeframes.
Don't have any big positions as I expected it to retest the 114 breakdown level but it didn't happen
4H Timeframe View:
FX:USDJPY tried to break the 200MA but it failed and continued its...
The USDJPY bulls failed to hold prices above the 113.25 handle on Friday. I mentioned this level on Thursday as one that stood in the way of downside targets.
With the pair now well below this mark on a weekly closing basis, any retest of 113.25 will likely encounter selling pressure. I wouldn’t be surprised to see a reversion to this level given the fact the...
Bearish Scenario : Bullish trend line broken. Expecting 118 retest IF zone 121.6-121.9 is rejected.
Bullish Scenario: If the zone 122 holds and closes above last high, possible long target 126-129.
