USDJPY
Overall bias is bullish, looks like a rate hike is happening in Sept
Short term short bias because:
Weekly bearish engulfing
Daily inside bar, pin-bar showing bears in control of price
4hr MA/EA about to cross
Downtrend since piercing high of 125 not seen since 2007
Below Kumo on 4 hr, hence this very short term trade.
Inside bar on 4hr, looks like a continuation after rejection on close above .618 fib
Conservative target of 122
121.555 is an ideal target
We could see a significant reversal at 122, but we need a lot of momentum from Fundamentals.
Short term short bias because:
Weekly bearish engulfing
Daily inside bar, pin-bar showing bears in control of price
4hr MA/EA about to cross
Downtrend since piercing high of 125 not seen since 2007
Below Kumo on 4 hr, hence this very short term trade.
Inside bar on 4hr, looks like a continuation after rejection on close above .618 fib
Conservative target of 122
121.555 is an ideal target
We could see a significant reversal at 122, but we need a lot of momentum from Fundamentals.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.