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Harmonicforex

USD/JPY Daily Analysis: Seizing the Bearish bat pattern 📉Shalom, tradingviewers, from the holy city of Jerusalem! Where I live right now, in the neighbourhoods of kindness. Thanks to the Creator 😀 Its a great pleasure to share my precious insights with you as always. Today, we embark on a journey, where the USD/JPY currency pair beckons with a compelling setup on the daily timeframe: 📌 Technical Analysis Highlights 📌 🦇 Bearish Bat Pattern: Picture this - the price action has masterfully crafted a bearish bat pattern, renowned for its impressive win rate. This pattern has gracefully steered the price towards a pivotal point at 149.500, none other than the D leg of this harmonic formation. 📉 Anticipating a Correction: Now, as we stand on the precipice of change, the RSI indicator chimes in from a highly oversold territory, casting its vote of confidence in this scenario. And there's more - a bearish divergence has been evolving over the past two months, reinforcing our bearish outlook. 📈 Trade Strategy 📈 With these potent technical signals as our guide, we take action. This daily analysis caters to those with a broader perspective - a long-term vision of the markets. 📊 Long-term Targets 📊 1️⃣ First Target: 144.750 2️⃣ Second Target: 141.000 3️⃣ Ultimate Target: 135.000 While this daily analysis provides a panoramic view, remember that shorter timeframes may offer opportunities with tighter stop losses. Trade wisely, manage risk diligently, and may your trades bring abundant success! 🍀 Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you want more qualitative insights like this one 🌊🚀
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by Thomas_Zito
8
BluetonaFX - USDJPY ABCD Pattern WarningHi Traders! There are potential warning signs that the outlook for the US dollar is not as strong as we hoped. Bad data has been coming out of the US this week, leading to traders being very nervous about tomorrow's NFP announcement. This technical analysis on the charts also supports this. The market is currently in an ABCD formation, and the demand zone at the 145 level, which has been very strong over the past few weeks, must hold here; otherwise, there is a risk of a potential reversal of the bullish trend. Last week, we posted a bull flag opportunity and stated that the market must break and close above 146.564 for a possible continuation towards 150.000, which the market has yet to do. This pattern is still in play, but the demand zone must hold. All eyes will be on the NFP announcement tomorrow, and further bad data will lead to a bearish outlook for the US dollar. We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates. Thank you for your support. BluetonaFX
by BluetonaFX
EURUSD 4H Bullish & Bearish EURUSD 4H Bullish & Bearish and M and W. Double tops and bottoms are important technical analysis patterns used by traders. A double top has an 'M' shape and indicates a bearish reversal in trend. A double bottom has a 'W' shape and is a signal for a bullish price movement. Double top and bottom formations are highly effective when identified correctly. However, they can be extremely detrimental when they are interpreted incorrectly. Therefore, one must be extremely careful and patient before jumping to conclusions.
by shoonya0000
1