Traders,
On daly chart, USDJPY hit 111.4 round now is pulling back. The blue trendline is still valid and the red zone round 110 is the assumed support zone.
Our last long trade on USDJPY hit TP1 WITH 150 pips, that trade is now holding without risk becoz we have our stop loss move to our entry .
On weekly chart, we have an unfinished potential reverse hammer. This is not sure yet , becoz we still have 3 trading days left this week.If we have a reverse hammer on wkly chart, then we will see a correction from 111.4 down to 110 or lower support zone in the following 2 wks, considering there are no strongly triggered from fundamental. And a sideways movement on the top is possible.
What happen to that if 111.4 no loner a resistance ? We will see 112-114 soon.
Less is more!
On daly chart, USDJPY hit 111.4 round now is pulling back. The blue trendline is still valid and the red zone round 110 is the assumed support zone.
Our last long trade on USDJPY hit TP1 WITH 150 pips, that trade is now holding without risk becoz we have our stop loss move to our entry .
On weekly chart, we have an unfinished potential reverse hammer. This is not sure yet , becoz we still have 3 trading days left this week.If we have a reverse hammer on wkly chart, then we will see a correction from 111.4 down to 110 or lower support zone in the following 2 wks, considering there are no strongly triggered from fundamental. And a sideways movement on the top is possible.
What happen to that if 111.4 no loner a resistance ? We will see 112-114 soon.
Less is more!
