USD/JPY made a sizeable move up last week. It retraced more than 50% of the December-January decline.
Tag - jpy - japanese yen
Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.
The pair slid back below the Fibonacci level. Moving averages on H4 are in the negative order.
The pair formed a “hammer” on W1 and is now likely to retrace to higher levels.
Sometimes it’s worth analyzing big timeframes in order to get important trading hints…
Forex market started 2019 with extremely high volatility…
Find out how to trade EUR/USD and USD/JPY ahead of the CB consumer confidence release!
EUR/JPY has reached the support line connecting 2018 lows and the lower weekly Bollinger band in the 125.50 area.
On the daily chart of USD/JPY, bears managed to reverse the uptrend due to the implementation of the "Three Indians" and "Spike and Ledge" patterns' combination.
On the daily chart of EUR/JPY, the implementation of the "Spike and Ledge" pattern, in particular, the fall of the pair below the lower border of the "ledge" between the 127.6 and 129.25 levels, made the pair reach the 88.6% target of the "Shark" pattern.
What will be the prevailing mood in 2019 and which assets will gain the most on the basis of it?
Trade signals for December 24