South African Rand/Japanese Yen

FXCM

ZARJPY

Weekly pullback traded in the 4 hour chart against the long term downtrend

Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for sell.

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...

SELL ZAR JPY

When looking at the regression lines from the past few months this pair has the potential to drop further as indicated.

Now it is time for me to get out of here. Will look for another entry after dust is settled.

Weekly and daily on bear rally. 1hr: Waiting 1hr candle to close below 7.647 and take a short.

Time to collect some profit

This pare is ripe for short position.

Weekly: Broke and close above resistance at 7.747 as we are currently bullish on the trend line. 1hr:Expecting retracement at 7.747 before bullish continuation, hence buys at 7.747

Bigger pullback may lead to new bear territories and shorting possibilities

ZARJPY, H4

1hr: Divergence on 1hr sells at 7.620, being the resistance supported by the turtle soup sells

* Please do your own homework. This is only for journaling/date collection/ forward testing. Trading against the RAND weakness.

Daily: Rejection of Support on Daily. 4hr/1hr: Buys at 7.287

Potential Long Entry for ZARJPY I cloned the support trend line to predict a potential new resistance trend line.

1HR:Buys at 7.223

Look for target at 5.20 on a break of neckline.