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Analysis up on #USDJPY
Hello friends.
this was a monster move for USDJPY, but are we done on the upside!?
Honestly, I do not like picking tops or botoms, but let's see what the market has done and what it might do!?
>> each time the market test the trendline resistance it faces rejection and move down to the downside
>> each time the market moves 400 pips or more from its 200 moving average it drops back to its MA or below it, but why? we all know that the 200 MA is very important to traders and it acts as gravity it pulled the price towards it
>> Look at RSI how it dipped back to below 80 while the market is making new highs, this is called RSI divergence.
>> the market is near a very important number for BOJ 110, so it will be interesting to see how the traders will react to this market in the coming days.
The plan for me to see if on the lower time frame will in fact start a small downtrend and get in a good trade with a good risk to reward.
Safe trading everyone
Check today analysis below⠀
>> Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.
_____________________________________________________________________________⠀
-Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀
-Please note this is just a PREDICTION and I have no reason to act on it and neither should you
Analysis up on #USDJPY
Hello friends.
this was a monster move for USDJPY, but are we done on the upside!?
Honestly, I do not like picking tops or botoms, but let's see what the market has done and what it might do!?
>> each time the market test the trendline resistance it faces rejection and move down to the downside
>> each time the market moves 400 pips or more from its 200 moving average it drops back to its MA or below it, but why? we all know that the 200 MA is very important to traders and it acts as gravity it pulled the price towards it
>> Look at RSI how it dipped back to below 80 while the market is making new highs, this is called RSI divergence.
>> the market is near a very important number for BOJ 110, so it will be interesting to see how the traders will react to this market in the coming days.
The plan for me to see if on the lower time frame will in fact start a small downtrend and get in a good trade with a good risk to reward.
Safe trading everyone
Check today analysis below⠀
>> Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.
_____________________________________________________________________________⠀
-Disclaimer: This information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀
-Please note this is just a PREDICTION and I have no reason to act on it and neither should you
