USDJPY- Importance of Support & Resistance-109.75

18 thg 11, 2016

How prior resistance works as support will likely be evident in current case where UJ just moved upside not going below 109.75- prior high

This concept is called polarity reversal.

We need to change counts & be careful of key levels- our key level was 108.80 -which worked really nice & I even said that unless 108.80-108.75 is taken out- we cannot have a bearish bias.

Downside 109.75 can act as support in current scenario which was prior swing high.

What is polarity reversal
Earlier Resistance turns its role into Support or Support acting as Resistance

Connection with previous update- iii-wave is yet to complete & likely will push to a new high, but keep in mind about the zone 109.80-109.75- key zone for us

Holding 108.80- Bulls came back in UJ

18 thg 11, 2016

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21:13 Hrs 18th Nov2016

Last Price@110.60

I love Green Candles -Do You Love It?- Protect your profits & enjoy the weekend.

18 thg 11, 2016

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22:00 Hrs 18th Nov2016

Recent High@110.84

Likely a pullback to the zone 110.40-110.50 staying above 110.35- key level & critical level-110 - we will hold for new highs beyond 11.84

18 thg 11, 2016

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22;55 Hrs 18th Nov2016

Current Price@110.56

Recent Low@110.42

UJ moves up from close by above key level@110.35

18 thg 11, 2016

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00:02 IST Hrs 19th Nov2016

Its Midnight. Have a nice weekend

Last Price@110.62

Likely holding for a new high in the range 111.10-11.20 with 110.35 key level & critical level-110

21 thg 11, 2016

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07:29 Hrs 21st Nov2016

Last Price@110.81

Booked Profits @111.10 as expected on 19th Nov2016 - Update00:02 Hrs

Raising the support@110.40- Going above 111-111.05 shall be looking for 111.30-111.40 zone