Here is the Weekly chart of the USDJPY with a nice test of the 200 SMA. Keep an eye on it for more upside as long as price can stay above the moving average
Going long on USDJPY before fed hike. Expectations for future rate hikes will decide direction. Yellen can promise more hikes but implementing them is another story :)
Greetings, As you can see on the chart we have a possible gartley building with price respecting the pitchfork trendlines more or less. Price is currently testing resistance, should it get rejected we will await it at 114.580. The pink dashed line is a pitchfork trendline from the daily chart and should proof reliable. If price does not go any higher we could...
Hey Folks, We had a nice sharp move up and it seems to be a 3 wave correction going on. The idea is simple, the third corrective move is going on so watch for a fast reversal, then a flag to sell and we can even hold a trade towards to the end of the arrows, making a complete ABC correction from the impulse. IMPORTANT: If we do not get a fast reversal and...
Sell below 114.07. Stop loss at 114.77. Take profit at 112.90. Reason for the trading strategy (technically): Price continues to drop nicely from our selling area. We remain bearish below 140.07 resistance (Fibonacci retracement, horizontal overlap resistance). We also tighten our stop loss to 114.77 to protect our profits. Profit target is at 112.90 support...
Sell below 114.95. Stop loss ta 116.15. Take profit at 111.70. Reason for the trading strategy: Price has shot up and reached our profit target perfectly. We now look to sell below major resistance at 114.95 (Fibonacci extension, horizontal resistance, descending resistance, Fibonacci retracement) for a push down to 111.70 support (Fibonacci extension,...
Sell below 114.25. Stop loss at 114.97. Take profit at 112.90. Reason for the trading strategy (technically): Price has dropped from our selling area really nicely. We remain bearish below 114.25 resistance for a further push down to 112.90 support (Fibonacci retracement, horizontal overlap support) as we also tighten our stop loss to 114.97 to protect our...
Sell below 114.25. Stop loss at 114.97. Take profit at 112.90. Reason for the trading strategy (technically): Price is testing major resistance at 114.25 (Fibonacci retracement, horizontal resistance) where we expect a reaction from and a drop to at least 112.90 support (Fibonacci retracement, horizontal overlap support). RSI (34) is seeing major resistance at...
Buy above 111.35. Stop loss at 110.35. Take profit at 113.80. Reason for the trading strategy: We remain bullish above 111.35 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 113.80 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) is approaching strong support at 36% and also sees...
Price is coming to a daily support zone, from previous formation. Waiting for price to either do one of two things, first come up to .382 or .236 fib level and than look for an entry to continue to the downside. The second is wait for a clear break of the daily support for continuation to the next daily support level. Get updated through our telegram! Click to...
Buy above 112.58. Stop loss at 112.21. Take profit at 113.75. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal...
Sell below 114.03. Stop loss at 114.43. Take profit at 113.05. Reason for the trading strategy (technically): Price has bounced up and reached our profit target perfectly. We prepare to turn bearish below 114.03 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 113.05 support (Fibonacci retracement, horizontal...
Buy above 112.59. Stop loss at 112.29. Take profit at 113.49. Reason for the trading strategy (technically): We remain bullish above 112.59 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 113.49 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing strong support above...
Buy above 113.06. Stop loss at 112.58. Take profit at 113.82. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap...