AlfaXchange

AlfaXchange

Howdy, back here to dust off spidey webs after months in exile. So here on the plate today is an idea on Dollar Yen (USDJPY). On the technical front, we observed price moving higher in tandem with momentum seen on dollar index (DXY). Right now, it is consolidating nicely into a bullish flag and that represents a lovely opportunity to grab the bulls by the...

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Resistance

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Price fail to break previous support, looks set for another impulse move up before any major position

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Keppel in this channel and price action seems to suggest a breakout. If it does breakout this seems a good risk:reward setup

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Price opened 2021 in middle of nowhere. Nearest downside pressure at 1.95. Could go higher for liquidity before hitting major obstacle.

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Although 1750 handle is well broken, price is now finding resistance at the weekly rejection zone (1770 handle). But looking at monthly, gold may well still have legs for their last push. Will watch for buyers at 1750/1760 handle. Be patient and keep stops tight.

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Market opened the week with a gap (which was filled). Daily close on 22nd June shows buyers clustering above 1745 handle. Be patient, keep stops tight and enjoy the game!

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Daily close on 22 June if any still shows a little bullish presence. Price now testing the previous break zone. Again, keep stops tight and be patient.

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Price seems to be holding but the consolidation cannot be ignored. Looks heavy and prime for a move down to the next area of interest 106 handle. - Wait for daily break of trend line. - Wait for daily candle close. - Keep stops tight Lastly, be patient and swing your way!

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Weekly close suggest bulls still in the running. Nearest sellers can be found around 1790. - Break of trend line and close above resistance should commence the move. - Keep stops tight and wait for daily candle confirmation. Lastly, be patient!

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Trendline broken, retest break area and downward continuation

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Probability

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Oil Longs, low Risk High Return. Stopped out yesterday after price made new low but closed with bulls in sight. Looking for longs

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Break of structure should see a reversal

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Short looking likely

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UK100 about to steamroll its way to previous swing high, just like how Liverpool is currently crushing the EPL table

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Break of structure and down we go

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Big Swing up coming. Bad news for equity market