Bullish Continuation for USDJPY After Sharp Price Rally Yesterday
There is high probability for further bullish continuation following the massive price rally of USDJPY that happened yesterday : · The price has rejected / bounced away from a key level highlighted in the green rectangle, indicating price might continue to the upside today. · 20/50/100 EMA are curving upward and price is currently above them, moreover the price just breakout from the 200 EMA on H4. · Price has jumped up from Fibonacci retracement level around 38.2% golden ratio on H4. · Reverse divergence can be seemed on the MACD & Stochastic indicators of H4 · There is also Reverse divergence seemed on Stochastic window in the Daily chart. · I think the price will attempt to breakout from 100 EMA this week on the Daily chart. Buyers are determned enough to move the price up for USDJPY pair today. I will take profit when the price retest the previous swing high / resistance level of 105.61. Please comment if any, Thanks.
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Gold expecting bounce back from around 1810 and sell off around 1822.
Gold has negative divergence seen on RVI on H1 chrts hence, I am buying one lot for 1807 to sell at 1822 and sell 2 lots at 1822 with SL 1835 for target of 1775. Buying trade is counter trend hence keep low positions if you copy this. This is for my own records and not a trading recommendation. Loss or profit on you copying this is not my responsibility. Thanks.
Bullish Continuation for USDJPY After Sharp Price Rally Yesterday
Break out and retest trade...
Trend continuation trade
Gold expecting bounce back from around 1810 and sell off around 1822.
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Andrew Lockwood
X30+ years experienceStarted in the trading pits of London with some of the biggest traders in the world. Migrated to screen trading around 2005 now trades full time focusing on FX, Indices, commodities.
Max Norbury
X10+ years experienceMax is a diligent and pro-active individual with a wealth of experience in technical and fundamental analysis, high-probability trading and mentoring within the financial markets. He has also has a variety of non-accredited analytical certifications.
Mark Bennell
X15+ years experienceCertified Financial Technician (CFTe), Diploma of Technical Analysis, Diploma of Share Trading and Investment. 14+ yrs trading experience. Focus on the process and the money will follow.
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