The price tested support and didn’t break it. I think that the price will once again test support and go up to the point of 113,457. However, if price breaks support, it will move down to 112.318.
I agree hundred percent. That is exactly what I am thinking, We are almost there, if it goes back to 112.75 I am closing my short from 113.45.
EDIT:
However you need to take note that we are getting more data from US today, which might stir things up making the analysis invalid. It is released in 1 hour.
Sharp moves post rate raise… Interesting to see where it’s going next.
It might be a good opportunity buying on dips.
Price continues test support. And I think the price movement will be more definite in 3 hours. And I think that if the price breaks the support, it will move down to the point of 111,990. However, I think this is unlikely. And price I think will go up to the point of 113,146.
I think that price will continue to move down to 112.486. And if it breaks through, it will continue its descent to 112.191. But I think it willn’t break it and will again move up to point 112,978.
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Very fast drop on the USDJPY below the 113.00 level, trying to visit the 112.00 level where we can find the 200 day EMA.
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I think Usd / Jpy will go to 112.119 point.
Also a strong support zone on the USDJPY 4 hour…
Let’s see where it goes.
The USDJPY drops again to the 111.00 level and stalls at that level. If the pair bounces to the upside form that zone, then a double bottom pattern may form.
Hey traders!
I’m the only one who sees a head and shoulders pattern on the USD/JPY daily chart? Screenshot by Lightshot
It seems like it is trying to break the neckline…Am I wrong?
Neutral at this time, but i think main trend would run in the coming week too.
You might be right, there would be possible correction movement because of oversold conditions.
Staying out of this pair for now. Would be interesting to see how the USD moves.
The JPY is weakening a little but the USD is on the way up… although the US Government shut down will have an effect on this pair early in the week. So I’m staying out of it as well…
This pair has been tough to trade recently.
Good move to the upside, healthy looking to go above 111 next week!
I agree, the pair short term looks bullish enough, I set my target at 111.20.
Got in and got out, the US mess could expand and people could flock to JPY instead of USD.