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Choppyanalysis

USDJPY : US DOLLAR CHOPPY PRICE ACTION AGAINST JAPANESE YEN Technical Analysis : Price action as been choppy for USDJPY, We see a clear range between 109.500 and 107. I see no changes in the technical view of the USD/JPY pair even with a choppy price movement, it remains stable below the 108.00 support amid stronger control of the bears on performance, and risk aversion will remain supportive of this trend and foreshadow a downward movement towards support levels at 107.55 and 106.90 And 106.00, respectively. There will be no control of the bulls on performance without moving above the 110.00 psychological resistance. At the 106.9 level I expect to see a certain amount of support, so if we were to break down below that level it’s likely that we could see a downturn towards the 105 level. On the other hand, if we turn around and rally it’s likely that we could go to the 109 level where I see a significant amount of resistance. A break above this level allows the market to go to the 111 level but it certainly looks as if the downward pressure seems to be winning the day now though. Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial. You should therefore carefully consider whether trading is suitable for you in the light of your financial condition. Goodluck !
Short
by Tim298
1
Choppy Waters - Whats your strategyThe BTC chart over the past few weeks has ranged around inside a fairly tight range (tight for BTC that is) and the pattern emerging is a fairly clear period of chop within a tight range (<4%) followed by a large swing one way or another (>4% in a single candle). unless you actually like going full degen on bitmex and using 100X to trade $100 moves this is a difficult trading environment as the moves come out of the blue However looking closer into the choppy periods I'm seeing a decent pattern emerging that the longer they continue the more BTC breaks down out of the pattern Running through the last few periods of a couple of candles in 3-4% total range I count the following Length of 'Chop' (<3-4% movement) Short (<16h) Long (>20h) Outcome Move Up 4 2 Move Down 1 5 it's no iron rule but I'll be keeping this in mind when I'm in a trade, the longer it ranges about the more i'll be positioned for a breakout down
by weblyish