USDJPY - Looking for sell opportunities

28 thg 8, 2017

Since the drop in price from the high of 110.95 on 16th August to the recent low at 108.60 on 18th August, price hasn't been progressing much. Price seems to be developing a corrective structure. As such, we are expecting a minimum 3 wave structure to complete the corrective move before another potential impulse move to the downside.

We are still expecting one more move to the upside around the 110.06 to 110.35 region to complete the corrective structure before the bearish impulse move. However, we are not denying the possibility that we might see a bearish impulse move from here since price has indeed already make a 3 wave structure.

Whichever scenario price will be developing, our bias remains to the downside.

29 thg 8, 2017

Ghi chú

After the impulse move down earlier today, we won't be surprise to see a bigger retracement to the upside from here.

30 thg 8, 2017

Ghi chú

And we got the first sign yesterday of the upside. A corrective structure will give us the confirmation of more upside from here.

31 thg 8, 2017

Ghi chú

Price started crawling up instead, forming a potential wedge and a divergent with RSI. We might see a retracement before another push higher.

Short term sell, then go long.

31 thg 8, 2017

Ghi chú

Price broke the trend line structure impulsively today. Shifted stops to break even and we can target 109.71 in the short run. Still expecting a move higher after that. Tomorrow NFP will be key.

1 thg 9, 2017

Ghi chú

Potential scale in opportunity for short term