2019-11-11 • Updated
On the USD/JPY daily chart, the quotes moved beyond the consolidation range of 110.2-111.55. The realization of the AB = CD continues. Its target is located at 200% level of the BC wave (107.5). To hit this level, the bears will have to break the support at 108.8. The immediate resistance can be found at 110.2.
On the USD/JPY hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. The AB = CD pattern with 224% target of the BC wave is still relevant. It corresponds to the level of 107.5.
Recommendations: hold shorts (SELL 110,25 SL 110,8 TP1 109,6 TP2 108,8).
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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