What happened? Japanese shares fell on Monday…
USD/JPY reached sell target 108.80
2019-11-11 • Updated
- USD/JPY reached sell target 108.80
- Next buy target - 110.90
USD/JPY has been rising sharply after the earlier upward reversal from the key support area lying between the strong support level 108.80 (which was set earlier as the sell target and which has reversed the price with the daily Morning Star at the start of August and also with the daily Bullish Engulfing in the middle of June). USD/JPY is expected to rise to next buy target at the next resistance level 110.90 (top of the previous wave 2, which intersects with the 38.2% Fibonacci correction of the downward impulse 1).
Similar
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Latest news
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