GBPJPY First Entry is 159.229. Engulfing Pin Bar Candlestick formed at channel support.
CHFJPY Currency Market formed a pennant pattern. Enter short position at channel resistance level.
Enter short position after candlestick wick touches trend line resistance level.
NZDJPY Currency Market formed a parallel channel. Enter short position at channel resistance level.
The Japanese yen was the strongest performing currency this week, rising about 4% against the US dollar, with USD/JPY plunging below 134 to levels not seen since mid-August. Two favourable fundamental developments have fueled the yen's strength: a) Federal Reserve Chair Jerome Powell said that US interest rates might be hiked more slowly starting in December,...
Take Profit now for currency pair NZDJPY. Exit at 86.160.
Expect EURJPY to move 200.0 Pips. Enter at 146.00 price area.
The pair is still in a strong uptrend. No signal of getting behind. Price is about to break up the triangle to the next psychological resistance at 150.
Watch for buy opportunities above 143.756. A candlestick closing below 143.756 indicates a bearish outlook.
Inside Bar Candlestick pattern formed at pivot point level 163.440. GBPJPY market is bullish on the lower time frames.
In this update we review the recent price action in the USDJPY and identify the next high probability trading opportunity and price objectives tot arget
For NZDJPY, I entered a long position near 85.600. 85.600 is previous Resistance Level 1. Take Profit is previous Resistance Level 3 at price 86.075. Chart: Image:
Engulfing Bar Candlestick Pattern Formed On NZDJPY.
Engulfing Bar candlestick pattern formed on GBPJPY. Pound Yen Currency Market is Bearish.
On August 27th, I "forecasted" EURJPY to close above 137.981. I am still waiting for price to break the horizontal support and resistance level in order to go long. Why? Because there are three higher lows moving into the horizontal resistance level.