Reasons For Long Bias:
- June 8th Price Broke Above Zone that held since 2014 and hasn't been broken since 2008 (approx. 15 years)
- Price came back down and then came up and broke past that previous high that was just broken.
- The JXY is continuing to go into the toilet which means JPY pairs will have bullish momentum. Check weekly candle for confirmation.
- The descending trendline on CADJPY has been broken and retested even though the Bearish Divergence is present it just mean that CADJPY is due for a fall before going back up.
Targets
- Once price breaks above the pink line "Last Level of Structure to break" then I will wait for pullback and buy and hold til 107.000
- Green Trendline is a potential target
- June 8th Price Broke Above Zone that held since 2014 and hasn't been broken since 2008 (approx. 15 years)
- Price came back down and then came up and broke past that previous high that was just broken.
- The JXY is continuing to go into the toilet which means JPY pairs will have bullish momentum. Check weekly candle for confirmation.
- The descending trendline on CADJPY has been broken and retested even though the Bearish Divergence is present it just mean that CADJPY is due for a fall before going back up.
Targets
- Once price breaks above the pink line "Last Level of Structure to break" then I will wait for pullback and buy and hold til 107.000
- Green Trendline is a potential target
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.