USD/JPY Analysis - page 46

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The pair is range-bound above 108.30, I think it will rally to 109.50 soon.
 
The pair pulled back from 109.20 although it has not continued the downward trend yet. I think it may become range-bound above 108.30.
 
The pair did become range-bound as I suspected it would. I expect another rise to 109.20.
 

USD/JPY remains clearly bearish in the long term and yet is developing within the downward channel that started since January 8. Today the bears paused at 108.30, just above a strong support area.  With FOMC ahead this sounds reasonable.  

 
The pair rallied to 109.74 but so far it hasn't broken out above it. If it does I expect another move north to 110.00.
 
USD/JPY: BULLS FOLLOW A SHARK
08:27 01.02.2018

Recommendations:

SELL 110.1 SL 110.65 TP 109.10 TP2 108.20

SELL 110.65 SL 111.2 TP1 109.65 TP2 108.65

On the daily chart, a natural pullback happened after USD/JPY reached 88.6% target of the “Bat” pattern. If bears manage to hold the pair within inside the downward trading channel, chances of a sharp decline’s continuation will increase substantially.


On the hour chart, a break of resistance at 109.50 will increase the risks of activation of the “Shark” pattern with a target of 88.6%. In an obvious bearish trend, rebounds from levels of 110.05-110.15 and 110,65 should be used for selling.

 
USDJPY
 
107.35
 
USD/JPY reached 109.92. The NFP data will be announced in a few minutes and after it comes out the pair may rally above 110.00.
 

Breakout for buy Brainwashing signal.


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