WXY formation is almost finished near 50% retracement. 138 and 140 are key levels for successive breakout.
I don't like picking bottoms, however, buyers have stepped up ahead of the 1.08 level. This is a 2-day chart. There are two scenarios I see playing out. 1. This is a large retracement from 100-118 range and we are headed back toward the 118 level. 2. A series of lower lows, lower highs has started and we are heading back toward 100.00 The Key Level I believe...
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.
Pink dashed lines are levels where I would like price to play resistance bounce and trade onto the downside towards the previous day EQ & taking out the lows then to the structure low 110.241. I'll like to see clear rejection from the pink zone (Breaker) to get involved but right now I am sitting on my hands.
Japan225 - Bearish Trend Scenario Japenese index Nikkei225 recently broke and retested an ascending triangle pattern on the daily chart suggesting more downside for this index and also big strength for jpy pairs according to their correlation. If you look at the weekly chart of japan225, you can see the trump rally has lost its momentum with multiple...
Sounds like a book title.! Falling Wedge + price heading for resistance. we can expect 113-114 Enjoy. Comment below. for more frequent signals message me.
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...
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...
USDJPY broke 4H structure and downtrend in the middle of the week and now we can see pullback to areas below and after PA confirmation we shall see a big movement up. Next confirmation to buy USDJPY will be after breaking previous highs. We can see a strong dollar this week, so after pullback i will be looking for opportunities to long dolar! Don't forget to...
Price has broken that hourly trend line. If price brokes resistance, we can project price till the next resistance level.
gbp buy position against yen. Target -> more than 450 pips. Cheers, EnjoyForex
Above is what I am currently watching on this pair. The outcome will largely depend on what the NFP report is relative to expectations. I would not trade until after the report at 7:30 a.m. CST. Have a good night:)
Overview - Sentiment immediately changed (...again... I know) from extreme bearish to excessive bullish from traders as we reverted back to the top of the channel. This is especially true in the USDJPY pair. The index and the USDJPY is still clearly in a downtrend. Unless you are eager to get ran over by the heavy weight greenback, I urge for confirmation before...