USDJPY has respected a support of a rising parallel channel.
now it looks like we will see a higher high higher close formation around 110.0 - our next solid level of resistance.
this level is based on the horizontal structure and the resistance line of the channel.
look for a signal around 110.0 level to short the market.
EURUSD*
The technical cross-section**:
Trend: 0
A strength of trend: 3
Overbought/oversold: none
The priority area of transactions: buying
Buying in the area of 1,1160 with a stop below 1,1130 and a profit in the area of 1,1220.
Buying in the area of 1,1110 with a stop above 1,1080 and a profit in area 1,1160.
Selling in the area of 1,1220 with a stop above...
Signal ID: 69947
Time Issued: Friday, 13 December 2019 04:00:21 GMT
Status: open
Entry: 109.425 - 109.717
Limit: N/A
Stop Loss: 108.987
The Tidal Shift Strategy has just bought USDJPY at 109.571. The system recommends entering this trade at any price between 109.425 and 109.717. The signal was issued because our Speculative Sentiment Index has hit its most...
USDJPY hit our signal's tp1 with 50 pips last week.
This signal is still valid with only half size left.
On this chart, we see USDJPY met its 1st strong daily R/S with a DOJI. That is a warning signal not a confirming signal yet.
Meaning price could go up again to break the R/S to make it to 110.3-111.00 still in 2019.
Good luck!!!
LESS IS MORE!
After the Fed rate decision last Wednesday, we want to concentrate on the USD/JPY and the upcoming release of US Retail Sales data into the weekly close.
The Fed, as expected, didn't announce a rate cut, and presented a 'balanced' statement, the Fed dot plot likewise signalled no interest rate changes in 2020, and the Fed Watch Tool remained at an expectation of...
USDJPY trades at key resistance level at horizontal level and has consolidated towards the top. RSI and Stochastic overbought market, we are now expecting bearish price action.
Looking for a reaction off of this candle as price edges towards my zone. I am aware of the imbalance (gap) above this so if price doesn't react how i want i will wait for it to edge higher. My alert is set.
Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
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