Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/JPY Fibonacci analysis: close to test a strong support
2019-11-11 • Updated
USD/JPY has been following a bearish channel since last week and it looks like that the path is driving towards the Fibonacci retracement zone of 50% and 65% at 111.64 and 110.79 respectively. USD weakness is fueling the current move and a consolidation could happen over there. Also because the 200 SMA is trying to provide dynamic support. If that happens, the pair will run towards -23.6% Fibo level at 115.82.
RSI indicator is still in the negative territory, but it’s pointing to the upside.
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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...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone