current STOCHRSI reading:
Weekly (16.57, 35.36) - very close to oversold
Daily (67.74, 82.30) - Overbought, turned around on 15 Feb.
4HR (9.08, 7,80) - extremely oversold
1HR (16.09, 48.25) - diving down deep in just 2 hrs time
According to these reading, I have reason to believe USDJPY need to go south further down, it it can found support around 111.80, then a new up trend possible to come next.
The new potential uptrend can go above 118 and ahead to 120 .
Weekly (16.57, 35.36) - very close to oversold
Daily (67.74, 82.30) - Overbought, turned around on 15 Feb.
4HR (9.08, 7,80) - extremely oversold
1HR (16.09, 48.25) - diving down deep in just 2 hrs time
According to these reading, I have reason to believe USDJPY need to go south further down, it it can found support around 111.80, then a new up trend possible to come next.
The new potential uptrend can go above 118 and ahead to 120 .
Note
Since Daily is giving such a overbought reading and now the indicator is u turn and going south again, can this become a Divergent?I am very interested to found out.
Currently watching closely to its 1HR to see how it developed when support is found.
Note
so far it looks like USDJPY is founding support at 112.76 level.
Tonight is a Friday night, so I decide to enter the market around this level when the market open again on next Monday.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.