2019-11-11 • Updated
Recommendation: SELL 112.3 SL 112.85 TP1 111.45 TP2 110 TP3 107.85
On a daily chart of USD/JPY, bears could not move the pair out of the upward channel and create a combination of “Three Indians” and 1-2-3 patterns. At first, sellers need to cross the support at 112.3. If they manage to break it, the 88.6% and 161.8% targets of the “Shark” and “Crab” patterns could be achieved.
On H1, there is a chance that the pair will reach targets of 5-0 pattern. If the support at 112.3 is broken, the AB=CD pattern with 200% target will be implemented.
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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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