ON COT REPORT IN THE LAST 2 WEEKS WE ARE SEEING THAT SELLERS OF JPY ARE TAKING PROFIT MASSIVELY AS THEY REDUCED SHORT POSITIONS BY 10K ALREADY. WE CAN EXPECT A JPY STRENTGH OVER THE NEXT FEW DAYS AND WEEKS AND WHEN JPY STRENGHT KICKS IN NORMALLY IS WITH A SHARP IMPULSIVE MOVE. LOOKS LIKE WE CAN EXPECT JPY STRENGTH TO START FROM TOMORROW OR MIDWEEK This is...
THE MARKET ON 4H DOES NOT LOOK CLEAR AT THE MOMENT WITH 2 POSSIBILITIES. ONE CAN BE MORE UPSIDE AND THEN SHARP FALL AND 2ND SCENARIO IS TO MOVE DOWN IN A CHOPPY STRUCTURE. iT WILL DEPEND ON HOW THE GBP NEWS TODAY AND TOMORROW AFTER BAILEY'S SPEECH PLAY OUT FROM MARKET MAKERS. ONLY INTENTED FOR EDUCATIONAL PUPROSES.
The market is exhausted from the whole bull cycle it had for more than a year and we can clearly see a weekly divergence on RSI indication a potential correction to come to the downside. The most probable area the price will potentially drop to is the area between 148 and 150 to retest. This is only for educational purposes only.
Market looks ready to drop and correct after finding demand for JPY after cycle was extended from last month. Ending diagonal structure was created and now looks like is ready to drop for the entire month. Only for educational purposes
The JPY seems like has found buyers for this month so I am expecting it to come down to 107 levels minimum if not even to 106 105. Potential setup only for educational purposes.
The pair has formed nicely an ending diagonal pattern. Expectations for June is sharp move down to correct the big bull run.
We can see from the daily chart that the market has formed an ending diagonal pattern which is very similar to the Bitcoin daily chart for those who cannot understand what is that structure. Potentially we can expect a sharp drop in this one fairly soon. Only for educational purposes. Trading is risky and can result in substantial losses.
LEVELS MARKED ON CHART
MARKET LOOKS ESXAUSTED WITH NOT ENOUGH DEMAND POWER PRICE SHOULD DROP TO PREVIOUS STRONG DEMAND POTENTIALLY
Looks like the next 2 weeks this pair is due to correction still until it finds more demand for the next move up. Sell targets 148,147
DEMAND AREAS EXPRESSED ON CHART 2 POSSIBLE SCENARIOS - SCENARIO A MORE LIKELY POTENTIALLY TO PLAY OUT NEXT WEEK AHEAD FOR NEW MONTH IN MAY
BEFORE THIS PAIR CAN CONTINUE HIGHER THERE IS A BIG POTENTIAL FOR MARKET TO COME FURTHER DOWN TO GRAB ENOUGH LIQUIDITY TO PUSH HIGHER. TRADITIONALLY TOWARDS END OF APRIL START OF MAY THE POUND GET WEAKER AS WELL. SCENARIO ONE IS MARKET TO MAKE ONE MORE SMALL PUSH UP START OF THIS WEEK AND THEN DOWN OR SCENARIO B TO COME DOWN DIRECTLY. THE PRICE RANGE OF 145 TO...
LOOKS LIKE MARKET CAN POTENTIALLY CORRECT DOWN TO THE GOLDEN FIB LEVEL OF 50% SECONDARY SCENARIO CAN BE THE 147 LEVEL AT 38.2% FIB
3 POSSIBLE PATHS POTENTIALLY TO HAPPEN IN ORDER FOR THIS PAIR TO GET SOME MORE LIQUIDITY
It is clear that this market hasn't yet finished a proper correction so I am expecting market to drop down to the demand area in order for buyers to be able to push for next target zone by end of summer. On weekly we can see that market is trying to get some orders in in order to drop down to demand before it continues higher. This is just for educational purposes only.
Market has potential to move deep down for the upcoming weeks
Just a small extensions higher last few days, looks ready to fall from upcoming week
POSSIBLE SCENARIO FOR THE REST OF THE MONTH