Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/JPY: yen is hunting for crabs
2019-11-11 • Updated
BUY 111.45 SL 110.90 TP1 112.45 TP2 112.85 TP3 112.95
SELL 110.15 SL 110.7 TP1 109.15 TP2 108.15 TP3 107.15
On the daily chart, bears are trying to keep USD/JPY inside the long-term downtrend channel. If they succeed, the odds of the pair going to 88.6% and 161.8% targets of the “Bat” and AB=CD will increase.
On H1, a break of resistance at 111.45 will allow buyers to counting on formation of the junior “Crab” and “Wolfe waves”. On the other hand, a decline below support at 110.15 will open the way down to 161.8% target of the senior “Crab”.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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