USD/JPY: On verge of Downtrend???
업데이트됨
Since 2017 USD/JPY has been trading a descending channel and has stringently respected this channel ever since....
We are now at the top of this channel and can expect downside IF this pair wants to keep it's respect.
We are currently at a resistance zone around 109.7 and we will be keeping a close eye on it throughout the day to see how it responds to speculative sellers and seemingly overexcited buyers.
It appears extremely oversold on the daily timeframe but could still have legs in this uptrend to around 111 to 112 if a good break and retest of the descending channel materializes.
BUT beware of false breakouts and always do your own analysis.
Follow for swing trading ideas. Patience is key. Wait for clear signals and do not risk what you cannot afford.
Not financial advice.
We are now at the top of this channel and can expect downside IF this pair wants to keep it's respect.
We are currently at a resistance zone around 109.7 and we will be keeping a close eye on it throughout the day to see how it responds to speculative sellers and seemingly overexcited buyers.
It appears extremely oversold on the daily timeframe but could still have legs in this uptrend to around 111 to 112 if a good break and retest of the descending channel materializes.
BUT beware of false breakouts and always do your own analysis.
Follow for swing trading ideas. Patience is key. Wait for clear signals and do not risk what you cannot afford.
Not financial advice.
노트
Bears need clear, strong downward movement through 109.65 and a retest to add short액티브 트레이드
Severely oversold on the daily and bearish divergence cropping up on daily and 4hr RSI... but keeping very tight SL
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