2min forecast on GJ potential this week. There is some great PA developing. Monday and Tuesday I will wait to see what develops before i look to execute my trades on the lower time frames.
USDJPY - It had an interesting move towards the upside....!
What a week right! Crazy in the indices and equity market. Little reminder being a trader it isn't a get rich quick scheme....!
Technical aspects:
Pattern: Bullish Flag (At key area on Higher time aspect)
Support: 104.75, 104.51 , 104.15
Resistance: 104.910, 105.10, 105.20, 105.40
You could trade the...
After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken...
Reasons to Buy
1. Trend Line Support
2. Resistance Turned Support @ 141.20
3. 200 Period M.A Support
4. 1:2 Risk to Reward
5. Support Trend Line Test 4 Times Since 22nd December
This pair is about to take a multi-year dive (not, yet!) speaking volumes of a developing global crisis (risk-off).
Here is the Daily for more precise timing.
A falling wedge has formed for USDJPY. There is likely another short building here against the 50 DMA and another H4 RSI-14 Overbought top.
Seasonality supports a short of USDJPY in the near term.
GBPJPY created the daily low during London open by capturing sell side liquidity. It then closed a HHHC (higher high higher close) on the 4HR during NY session giving an optimal trade entry on the pullback. Price pulled back and re-accumulated on the 1min tf and never looked back. Target is the price imbalance that rests above on the 4HR. Now short term, order...
