USDJPY waiting for more signal
I have drawn support area and a trend line but I am still unsure where will the Price Action move.
There is a Doji on top but I need to analyze more what had happen on previous 30 candlesticks to know the history of the trade. In this case, past movement shows that the bulls are in the driver seat. The bears want to take the wheel but there is a resistance zone around 114.676. then again bulls shoots up but another resistance line at 114.912, bears shows and try to break the support at 114.676 but bull retrace back stronger. Again bulls want to break resistance 114.912 but cant. Bears want to try to go to 114.676 but they have been thrown out by the bulls . Bulls want to again break resistance line, bears try to resist but the bulls are too powerful. On the third attempt to break the resistance line 114.912, momentum of the bulls are strong and shoot up but still bears want to stop it. I am not sure what will happen to price action. Doji on top looks like a sign of reversal and bears will take the wheel. The bears have been waiting from Jan 27, or 2 1/2 months.
I have not looked at the news.
There is a Doji on top but I need to analyze more what had happen on previous 30 candlesticks to know the history of the trade. In this case, past movement shows that the bulls are in the driver seat. The bears want to take the wheel but there is a resistance zone around 114.676. then again bulls shoots up but another resistance line at 114.912, bears shows and try to break the support at 114.676 but bull retrace back stronger. Again bulls want to break resistance 114.912 but cant. Bears want to try to go to 114.676 but they have been thrown out by the bulls . Bulls want to again break resistance line, bears try to resist but the bulls are too powerful. On the third attempt to break the resistance line 114.912, momentum of the bulls are strong and shoot up but still bears want to stop it. I am not sure what will happen to price action. Doji on top looks like a sign of reversal and bears will take the wheel. The bears have been waiting from Jan 27, or 2 1/2 months.
I have not looked at the news.
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