Today the
USD/JPY pair formed two excellent signals that there will be a move to the
downside before the beginning of the European session. It began once the
European investment companies banks and traders entered the market.
Oh the H4
time frame there is a hanged man bar at the high of the upward movement, which
is an almost certain signal for a drop.
On the M30
time frame there is an RSI divergence between three highs, which, if It reaches
its limit, should lead the pair to 112.00.
On the M5
time frame there was a small flag with limit of 23 pips, which the pair reached
very quickly and after a short correction it kept depreciating.
Drawing the
diagonal trend line of the upward movement we can see that the target is around
112.00 where there is a strong support visible on the H4 time frame.
Thank you for the detailed analysis.
ReplyDeleteGood post!
ReplyDeleteGood insight.
ReplyDeleteGood point, will keep it in mind.
ReplyDeleteHelpful read.
ReplyDeleteThanks for the tips.
ReplyDeleteGood post.
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