Previous support is now huge resistance so I can say this will be very hard for a breakout.
I think about selling this pair from a nice point. price.
Be careful about your money.
Buying is the best in pullback , presently price is on the road of pull-back. HL- 106.9 nearby bottom of this pullback. The price can start to move new impulsive wave upward.
Waves picture on 4hrs chart TF:-
The (C) is target level after pullback at (B)
Don't Forget to FOLLOW and LIKES.
Last updated was:
I think the power move by the bulls is exhausted at the 107.04 resistance. Buyers cannot sustain their enthusiasm beyond that zone. If you are long, be looking out for signals that you should take profits.
This should not be taken as financial advice but based on my interpretation of the market.
Break-Down Alarm :106.967
Break-Up Alarm : 107.876
Let's think about this logically :-
A break out requires a surge of 1.5x volume than average volume.
Too much surged volume, would force prices higher/lower quickly, so great care is taken. Put the Alert point of price rotation.
The Price will go away too far from Price Rotatio n...
Hi all,
I am currently looking on the daily USDJPY chart that have found support on 61,8 fib, have a bullish price action spike and looking for a structural break.
If the dollar keeps staying strong against EUR and GBP this would be a good potential upside with first TP at 1.618(121)
For those who went short 2 weeks ago on this bearish price action pinbar, we were aiming for 101.2 and turned a nice 4.5:1 ROI.
Well done guys
Price Action tracker
Skype: PriceActionTool
stocktwits.com
Hello traders,
After the BoJ fiasco I had to restate my assumptions and my long term bias on this pair.
It seems as though the BoJ wants to drive price below 100.00
before announcing massive QE programs to address their debt issues.
A strong yen will highly impact exports on the downside and they don't want that.
Even though I was anticipating this from much...
