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USDJPY Key long-term pivot.The USDJPY has been on a parabolic rise since March 08 with the 1D MA50 (blue trend-line) supporting the whole move. In fact the most recent rally came on the May 30 1D MA50 rebound. The overall long-term pattern is a Fibonacci Channel but the most important level to consider next is the 135.100 Resistance which is the January 2002 High. Indeed that is a 20 year old Resistance level but macro-wise, the market psychology is very tied to such levels. A rejection there, should make the pair turn sideways long-term in the same manner as April - September 2021. A 1D candle close above it though, should see us test the next Fibonacci extensions in line, the 3.5 and 4.0 ext. The 1D MACD is on a Bullish Cross and that technically favors the bullish trend, at least on the short-term. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
5
GBPJPY Long-term buy opportunityThe GBPJPY pair has been trading on a long-term Fibonacci Channel pattern as we outlined in our last analysis two months ago. Since May 12, the price is on a strong rebound having hit the 1D RSI Buy Zone. With the prior top resembling those of August 2020 and March 2021, the pair is more likely to extend this rise either instantly or less aggressively, as long as the 1D MA50 (blue trend-line) is supporting. In either case, the Target should be at least the 2.0 Fibonacci extension of the Channel or at least when the 1D RSI enters its Sell Zone. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
4
CHFJPY One break-out and one pull-back buy level.The CHFJPY pair has done brilliantly since our last analysis, giving a perfect sell and then rebound at the bottom of the Channel Up: Right now the price is approaching the top of the Channel so it is best that buy profit is taken. A break above the Higher Highs trend-line of the pattern at 138.500 would be a buy continuation signal. If rejected though, it is best to wait and buy again closer to the Higher Lows (bottom) trend-line of the Channel Up. In either case, our Target is the -0.5 Fibonacci extension, which is currently around 144.440. As this chart shows, the -0.5 Fib has been the Higher High target since 2021. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
AUDJPY forming a bullish patternThis is an update of the AUDJPY pair on my previous sell signal upon the 1D RSI Resistance rejection, as illustrated below: With the price now recovered from the sub 88.000 level, the pair is waving a buy signal as it broke above both the 1D MA50 (blue trend-line) and the 0.618 Fibonacci retracement level. Since it started trading on this long-term Fibonacci Channel back in 2020, this break-out combination has only happened twice (see the circles) and on both cases after a short-term pull-back, the price rallied strongly. For example see late June 2021, where the price failed to break above the 1D MA50 and 0.618 Fib. Consider also the important of the 1D RSI Symmetrical Zone. The RSI is now exactly on the same level (flag symbol) that it was during those two break-outs I mentioned (mid November 2020 and early January 2022). This further suggests that we may be replicating currently that exact same bullish pattern. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
6