The 13 EMA has Broken above the 5 EMA on the 4 Hour Time Frame
The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over bought
Fib Retracement confirms a target to the Short side
Take Profit is Derived from Pivots
The 5 EMA has Broken above the 13 EMA on the 15 Minute Time Frame
The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over sold
Fib Retracement confirms a target to the Long side
Take Profit is Derived from Pivots
A bearish-type Shark pattern occurred.
If the price rises to 8.342, a bearish-type Nenstar pattern could occur.
Short after seeing the rebound.
*Harmonic patterns are automatically detected using the indicators below.
- Harmonic auto-detect PRO
10 things to know about trend lines :
1- They connect two candles minimum. But more is always better, because the more candles there are, the stronger the trend.
2- They can be of 3 types: bullish (pointing up), bearish (pointing down), directionless (drawn horizontally).
3- Trend lines can be traced either on the closing price or on the candlestick wicks. It is...
The Japanese Yen has begun to gain some strength against many of the Major Pairs and looks to be forming a Bear Flag on the daily that could take us down to the 800 Day EMA in time.
On another note about the JPY strength, there is another much older JPY Strength play that i am still participating in, in the form of GBPJPY that can be seen below:
The Yen is no longer as a safe haven with the BoJ indicating that they are not bothered with a weak Yen. I expect further weakness, anticipating that the ZARJPY, AUDJPY & NZDJPY being great plays for this weakness
The 0.618 Fibonacci extension lies ahead with the price target for 2022 being at the 100% level at 9.519.
Hello
The divergence in the MACD & RSI indicator indicates the end of the downtrend in the ZARJPY currency pair.
The price is fluctuating in the resistance area after breaking its long-term downtrend line and completing PULLBACK.
The price is expected to be able to get out of this area and experience the BULLISH.
Look for a correction after a strong impulse once you have identified the trend and trade that way. A correction is usually a point where the price struggles sideways. It signifies traders are either taking positions or they are taking profits from the previous motive move
OANDA
