will be an interesting trde..
My expectation is a breakdown from the triangle will occur then a true breakout
In a totallu=y diff scene a stright up breakout may happen also..Will decide the entry , the take profit regions are market sin green..
JPY / INR market about to complete the BEARISH CYPHER in 60 MIN,
So ENTER SHORT only @ 0.58275 with SL 0.58550
TARGETS
1) 0.58045
2) 0.58040
3) 0.57900
4) 0.57345
For further Targets we can trail our SL
GOOD LUCK
I think we will see a sharp rally here once the lows are retested to complete the C wave of the corrective structure. I would watch for a reversal once the previous lows are retested. Short term up, Long time, Down trend still in tact.
There's divergence on the Daily time frame, too
the price action of the JPYINR has found support at 0.58106 which is the c level and now the bullish
wave is on course still it reaches D level i.e target at 0.59800. www.tradingview.com
yen is short , since after XABCD pattern there has been nice up move and faced resistance at supply zone, i.e AB leg is completed now BC leg is now being formed. we shall target the C level as 0.382 of AB i.e 0.5890 , this is the target. www.tradingview.com
Hello everyone here we have a setup based on structure. Wait for price to breakdown the ascending channel and look to short till the 0.5794 area. Stop loss would be above the high after breakdown of the channel
the price action has reversed form the demad zone at 64.261 with a target at 66.000 and stop loss at 64.000
now the bullish sentiment of the USD has subsided due to the disappointing Non farm payrolls data, we may expect rate hike in decemeber for the USD. hence JPY has enough room to increase in the meantime.
now iam in LONG position of JPYINR
INR GETTING STRONGER FOR WHILE AND IT LOOKS LIKE YEN CAN 0.52619 BEFORE GOING UP. CYPHER PATTERN COMPLETION IS A GOOD TIME TO BUY YEN. BUT CURRENTLY SHORT IT FOR A WEEK.
RISK REWARD: 1:1
