USD/JPY in anticipation of a brand new LL
Hi,
My thoughts:
I can see this pair has more downside potential. It is holding at the current level (H4) and there are no significant pullbacks to the higher time frames (daily) - signs of bearish strength.
The recent sell has been reached (H4) and the price was strongly rejected from there. I wannna see the next move towards the same zone and its performance.
I anticipate it to start holding around (H1) the recent breach.
Only a strong upside candle (going through 110.80) would invalidate this idea.
First target zone would the recent low from the daily - 110.30
The main target would be the area around - 109.50
Let's see if we can get a good price.
Good luck :)
My thoughts:
I can see this pair has more downside potential. It is holding at the current level (H4) and there are no significant pullbacks to the higher time frames (daily) - signs of bearish strength.
The recent sell has been reached (H4) and the price was strongly rejected from there. I wannna see the next move towards the same zone and its performance.
I anticipate it to start holding around (H1) the recent breach.
Only a strong upside candle (going through 110.80) would invalidate this idea.
First target zone would the recent low from the daily - 110.30
The main target would be the area around - 109.50
Let's see if we can get a good price.
Good luck :)
Feragatname
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