USDJPY - BULLS TO TAKE CONTROL

21 Şub 2016

This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements

Daily

• Pivot points: Price is below Monthly and Weekly central
  Support/Resistance:price sitting at support,resistance is above at around 114.350
  EMA: Price below 21, 55 EMA 200 bearish
  Trend: Down
  Structure: LL,LH,LL,LH waiting for HL and HH
  Bias: Bullish
  Psychological levels: 112 just below current price
  Stochastic:Rising around 50
  Fib: Price at 618 fib retracement
  

4H Chart

• Daily Pivot: Price at DS2
  Support/Resistance: Nearest resistance is 114.5, Prise is sitting at support
  EMA:Price Retested 55 EMA after riding 21. This suggest corrections more towards 200 EMA and that would be 21 EMA on Daily
  Trend: Down
  Structure: LL,LH,LL,LH, this might be HL so HH is expected
  Stoch: Oversold below 20
  

1H Chart:

• Suport/Resistance: Price at support and near resistance on 1h is 112.8 - 113
  Stoch: Rising from below 20 oversold levels