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JAPANESE YEN / MALAYSIAN RINGGIT

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JPYMYR trade ideas

Waiting for another breakout (For self learning only) Disclaimer: This is my own trading journal for learning purposes. Some pointers will be appreciated if anyone is interested. Cheers! Currently it seems like the long bar are stronger in comparison to the short bar, which indicates that it has a stronger upside. Can enter the market at 0.03248 (0.618 fib), with a stop loss at 0.03222 (0.786 fib). Profit taking can either be at 0.3343 (1.0 fib) for a safer route or 0.03385 (1.27 fib) for a slightly more greedy taking.
Long
by poopbucket
JPYMYR Jump Over The Cliff| Bearish Signal| 0.03900 PredictionI am at home. Looking to the JPYMYR chart. I have spotted the channel. This is not a regular channel. This is the 'clash channel'. Why 'clash channel' is so important to the chart? It is the collision of the demand and supply between Yen and Ringgit. Yen has slightly shaken off the momentum as this week. The demand to the Yen has fade bit by bit. On the other hand, Ringgit has develop the strength from the Malaysian economy which has gain its momentum through the recover pandemic period despite the political clashes. Expecting the Yen versus Ringgit will turns to sell off bearish 0.03900 again to test the support. While in this bearish sentiment and fundamental, JPYMYR is prefer on selling its course for this week. Other party which wanting the Yen to be weaken, consider your wish is on your favor. Expecting the Yen low volatility by this week as the week has been reserved for FOMC and NFP. Thank you. Regards, Zezu Zaza 2048
Short
by Zezu_Zaza