USD/JPY: Week9 Update
Updated
Hi Guys,
the scenario has not change much since my last post.(see USD/JPY: Week9 Kick Off in the related links below).
The pair is ranging between 112.000 and 111.640. Momentum seems fading more and more and if price falls below current support 4, price could retrace 50% of the move 0 to 3 in accordance with the rule of wave alternation (if wave 2 is shallow, then wave 4 will be a deep correction).
At the time of writing price is attacking 111.640.
Strategy: Wait & See
Keep an eye on EUR/USD and DXY
Also watch out if it resume the move up towads 112.
Thank you for your support and for sharing your ideas.
Don't forget to like if you like the post and to follow if you want to receive notifications on new or updated ideas.
Respect, Be Carefull and Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
the scenario has not change much since my last post.(see USD/JPY: Week9 Kick Off in the related links below).
The pair is ranging between 112.000 and 111.640. Momentum seems fading more and more and if price falls below current support 4, price could retrace 50% of the move 0 to 3 in accordance with the rule of wave alternation (if wave 2 is shallow, then wave 4 will be a deep correction).
At the time of writing price is attacking 111.640.
Strategy: Wait & See
Keep an eye on EUR/USD and DXY
Also watch out if it resume the move up towads 112.
Thank you for your support and for sharing your ideas.
Don't forget to like if you like the post and to follow if you want to receive notifications on new or updated ideas.
Respect, Be Carefull and Enjoy:)
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
This is the scenario with same SMAs as the post "USD/JPY:week 9 kick off" - link in the related ideas belowNote
"USD/JPY destined towards 111.20 if respecting mean reversion theory of 26th Feb swing lows" says FXStreet at fxstreet.com/news/usd-jpy-destined-towards-11120-if-respecting-mean-reversion-theory-of-26th-feb-swing-lows-201903070024?utm_source=tco&utm_medium=twitter&utm_campaign=fxstreetnewsNote
But I am not convinced yet. DXY is still bullish and Gold bearish. Therefore USD/JPY have still room for moving towards 113.Note
The following is EUR/JPY following ECBTrade closed: target reached
Related publications
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.