USDJPY short
Updated
Don't take this as trading advice, just committing my thoughts to e-paper!
Price currently at weekly resistance 114.5 (Since May '17) Next resistance at 115.5, stop just above that (115.6)
Price touching downtrend resistance line (since June '17)
Volatility (Bollinger Band width) at low values usually seen preceeding large moves (sell off in equities?)
Commitments of traders commercial buying at highs associated with strength in Yen ( see ibb.co/mdVOHb )
First Target - weekly support @ 111.6
Final target - weekly support @ 108.4
Price currently at weekly resistance 114.5 (Since May '17) Next resistance at 115.5, stop just above that (115.6)
Price touching downtrend resistance line (since June '17)
Volatility (Bollinger Band width) at low values usually seen preceeding large moves (sell off in equities?)
Commitments of traders commercial buying at highs associated with strength in Yen ( see ibb.co/mdVOHb )
First Target - weekly support @ 111.6
Final target - weekly support @ 108.4
Note
Edit: Trendline resistance since June 2015, not 2017.Trade active
First target hit, taken 1/2 profits, letting rest run to final target
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.