Technician

USDJPY: This is a key level

FX:USDJPY   Dolar U.S/ Yen Jepun
5290 10 177
Major tug of war happening at this key juncture. The USDJPY             is testing a key horizontal resistance and clear ceiling for the sideways range between 108-114.50.

The recent slowdown in upside momentum might be normal at this confluence of 114.50 horizontal resistance and the long term falling trend line . However, the level could be pivotal to the direction of the pair in the coming period.

The price could be forming a rising wedge amid falling momentum on RSI .

While all of the above technical reasons does not guarantee a reversal, it should be considered for a short position.

  • Aggressive traders can go short with a stop above that resistance area , for good downside potential. With First quick target at 113.10, and a second target around 111.75.

  • In the case that the price breaks and close a daily candle above 114.50, that would be another scenario and also can be traded to the upside. Targeting 115.50, then 118.00.

Trade with care
Best
Technician

Ei Technician. You are one of the trader that I respect and I follow mostly. In this case, don't you think that we are simply in a correction after an impulse, and we will see another impulse near 117 area? Nice work as usual! My one is only a confrontation.
Balas
Like your sound analysis
Balas
Thanks mates for your comments.
+2 Balas
Thank you! Great!
Balas
thank you for your sharing your analysis
Balas
Very possible a break upwards and then the real rejection down.
+1 Balas
thank you for your clear analysis. No BS with you i like that
Balas
Thanks for the great analysis once again!
Balas
Thanks for the wonderful analysis! Love it!
Balas
Thanks for the great analysis!
please keep sharing, i like your ideas.
Balas
MS Bahasa Melayu
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Laman Utama Pengimbas Saham Pengimbas Forex Pengimbas Crypto Kalendar Ekonomi Bagaimana ia berfungsi Ciri-ciri Carta Peraturan Rumah Moderator Laman web dan Penyelesaian Broker Widget Perpustakaan Carta Stok Permintaan Ciri Blog & Berita Soalan Lazim Bantuan & Wiki Twitter
Profil Pengesetan Profil Akaun dan Bil Tiket Sokongan Saya Hubungi Sokongan Idea-idea yang diterbitkan Pengikut Mengikuti Mesej Peribadi Perbualan Log Keluar