USDJPY Retest
1/26/2016 Monday
Currency pair: USDJPY
Entry Order: Buy Stop @ 118.39 - 3:1
SL: 117.79
TP: 120.19
Analysis:
-weekly formed piercing line candle
-4h broke out of countertrend line
-4h retest of counter trend
-retest of weekly pivot
-triple bottom reversal pattern
-support at 116.50
-4h MACD divergence
After seeing the pair break through
weekly trendline, it looks to retest it
and also the 50 and .618 retracement.
Currency pair: USDJPY
Entry Order: Buy Stop @ 118.39 - 3:1
SL: 117.79
TP: 120.19
Analysis:
-weekly formed piercing line candle
-4h broke out of countertrend line
-4h retest of counter trend
-retest of weekly pivot
-triple bottom reversal pattern
-support at 116.50
-4h MACD divergence
After seeing the pair break through
weekly trendline, it looks to retest it
and also the 50 and .618 retracement.
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