Potential Bullish Targets | $USD $JPY $UDX $Nikkei
Friends,
Short term Yen looks to have topped at 102.277 (potential max = 102.416), leading to a probable 50% retracement into a 101.735 support. However, this short-term reversal still keeps this chart in a bullish directional bias.
However, conflict in the long-term (Bullish) and intermediate (bearish) trends offer a net bullish dominant trend, and the technical changes that are going on at the shorter term levels may herald a nascent bullish trend that would potentially turn the intermediate term around from its current bearish to neutral and finally to bullish stance - At least, this is the predictive analysis outcome anticipated in our system.
For the time being, two bullish targets emerged in this chart, namely:
1 - TG-1 = 104.095 - 04 MAR 2014: Yellow = Intermediate probability
and
2 - TG-Hi = 105.375 - 04 MAR 2014: Red = Low probability
OVERALL:
While we wait for a bullish market conversion to occur in the intermediate timeframe, we remain cautious about the possibility of further reactive downside; a current break and close above 102.417 should negate this short-term 50%; softer support exists at 101.735, compared to a stronger a structural support near 101.250, which should remain a concerning "line in the sand" for any prospective bull.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
Short term Yen looks to have topped at 102.277 (potential max = 102.416), leading to a probable 50% retracement into a 101.735 support. However, this short-term reversal still keeps this chart in a bullish directional bias.
However, conflict in the long-term (Bullish) and intermediate (bearish) trends offer a net bullish dominant trend, and the technical changes that are going on at the shorter term levels may herald a nascent bullish trend that would potentially turn the intermediate term around from its current bearish to neutral and finally to bullish stance - At least, this is the predictive analysis outcome anticipated in our system.
For the time being, two bullish targets emerged in this chart, namely:
1 - TG-1 = 104.095 - 04 MAR 2014: Yellow = Intermediate probability
and
2 - TG-Hi = 105.375 - 04 MAR 2014: Red = Low probability
OVERALL:
While we wait for a bullish market conversion to occur in the intermediate timeframe, we remain cautious about the possibility of further reactive downside; a current break and close above 102.417 should negate this short-term 50%; softer support exists at 101.735, compared to a stronger a structural support near 101.250, which should remain a concerning "line in the sand" for any prospective bull.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
