USDJPY on the 2 hour chart showing a nice uptrend with defined higher lows and higher highs.
We have reached a big flip/resistance zone here at the 109.00 zone. Take a look at this zone on the daily chart.
After making higher lows and higher highs, we failed to make a new higher high and this can be seen as a sign that the trend is exhausting or losing steam....
Market detective here,
As I have been repeating, I am convinced the whole economy is in a complete pyramid scheme.
All yen pairs are trending the same direction, chf might be a safe haven too but actually it is less influenced by scammy interventions so chfjpy might be the safest one to go for, and anyway it's not very important (the fundamental thing) it's just...
Maybe not the most popular trade idea given what is occurring with Turkey geopolitically, but a good set up nonetheless.
Been in a downtrend with multiple waves, and we hit a support/flip zone which can be seen by going further back or on the daily chart.
A double bottom indicates a possible exhaustion of the trend as no new lower lows have been made.
I like what I see here on CADJPY on the 2 hour chart.
We hit a nice support/flip zone which can be seen by zooming out or going on the higher time frames.
So far there is nothing to indicate a reversal, as we are still making lower highs and lower lows. However, what I am predicting here is a potential higher low which will be confirmed by a higher high break of...
GBPJPY hit a big resistance/ flip zone and created a double top here. What this shows is that a higher low (confirmed by a higher high) could not be made so there was an exhaustion of the trend.
We then broke below a support zone of 134.00 and the break and close was a strong red candle indicating strength.
With this uptrend over, we would expect multiple...
As we can see price struggled to break the bearish structure on the daily despite the bullish rally we have previously just had, i would like to see price now come down to at least 61% which for me i have marked this zone in green and the blue zone being 88%.
Mondays are never really a day i look to enter markets but over the next coming weeks as we are also...
JPY Futures chart shows the Yen is currently oversold, broke below falling wedge, approaching strong trend-line and horizontal support.
Watch for trend reversals across all JPY crosses. (Individual charts for Yen crosses show many pairs approaching Daily resistance zones)
Yen crosses tend to produce decent trend trade opportunities. The large impulsive move in...
Really, you can see this trend transition pattern even on the 4 hour and the daily chart but 8 hour looks the best.
Head and Shoulders is visible and occurred at a long term support level. We have had a long downtrend too and we did stop making lower lows. We made our first higher low indicated by the right shoulder. We had a nice strong break on the neckline...
Like what I see here on ZARJPY. On the daily chart, we can see we hit a major support zone.
On the 4 hour, we have been in a downtrend with lower highs and lower lows. However, the downtrend seems to be exhausting.
We are seeing a double bottom here and even possibly a head and shoulders if we reject the neckline depicted and make a higher low.
I would await...
The YEN pair shows rejection on the weekly support, and a clean morning star doji candle on the 4-Hour chart, We are expecting a retrace to the buy zone of 61.8 - 78.6 (which is in confluence with previous support). I will be looking for buy entries there....for a Strong Buy lasting til end of the year.
Been a quiet week thus far but have some pairs finally moving.
The Pound pairs are looking good. Here is GBPJPY. Created a head and shoulders at a support zone and we got a very nice and strong break of the neckline.
First target would be the 132.50 zone.
Take a look at the USDJPY 4 hour chart. Nice downtrend with multiple waves, and we can see a potential head and shoulders pattern here.
Not a textbook head and shoulders, but it shows a possible shift in trends from lower highs to now higher lows.
Await for the break above the neckline/resistance/flip zone at the 106.70 zone. Patience. We want a nice and strong...
The Yen pairs will also benefit from my theory on equities going higher on hopes and promises of more stimulus coming to keep stocks propped up.
Both charts are similar and are at very important support levels and are showing signs of trend exhaustion. We are not making anymore lower highs and lower lows.
You can say we...