Watch for potential break out of triangle/wedge formation. expect continuation of downward momentum.
With no notable economic data to be released later today, I’ll be looking at the USDJPY for possibility of it retesting the 105.80 and 105.30 support level. This is in addition to the current commentary coming from the BoJ regarding the actions to be taken to reach their target of 2% CPI.
I'll personally wait for a push or pull, what do you think ? Please leave a comment. Any objections/suggestions are welcome.
Speculations!!!! could we see a morning star formation formed before the end of the year. as we can see my 61.8% fib lines up with a nice level of rejection and just above this is my monthly resistance. on the lower time frames we have already seen father indications that we should sell (1w and 1d time frames. however the movements towards the end of the year...
usd-jpy Short Setup Cypher Pattern
looking at fibos and waves it looks great ...
... therefor down/sell/short!
Now the bar of 102.20 was broken The next target of usdjpy is 102.10 it go under that . the next will be 101.50
Sooo, we have a very nice breakout on FX:EURGBP after a long term retests of the structure level @0.7240. As we see price has broken the structure and it is more likely to retest it and then fall down. And there is a good opportunity to sell at this level. I assume price will reverse somewhere in red zone and our targets will be somewhere in 0.7176-0.7146. So...
The price is going into the peak of a flag formation with the 101.180 resistance and the lower maximum points. I consideration of MACD and BB there is lots of pressure towards this resistance line and the potential to break it for going down to 97.000 and maybe towards 94.000.