Short-setup
USD/JPY On a Definition Zone🔸 DAILY CHART EXPLANATION:
.
.
🔸Price is facing the Resistance Zone.
.
🔸We consider that there are two possible scenarios here.
.
🔸In case of a bullish move from here, the first target is the Descending Trendline.
.
🔸 And, in case of a bearish move, the target is the Support Zone.
🔸 WEEKLY CHART ANALYSIS:
USDJPY H4 - Short SetupUSDJPY H4 - As mentioned, we have a lot of economic data coming up regarding the US over the next couple of days, this shall influence the USD a lot, effectively act as a catalyst to move USD markets, so do be aware of these points and keep an eye on timings! Lots of consolidation seen on UJ, could be exhausting, DXY broken support and setting LH's and LL's.
NZDUSD- Shorts developingWe can see that price has fallen out of this ascending TL and has officially made a lower low.
Looking to sell this pair if we get to an area of interest which is at the 50/61.8 fib levels as if we look left we can see these levels have held as structure previously and we will then be interacting with the 50EMA. Would need a confirmation candlestick before entering this though.
Currently have a USDCHF short running so this pair would not agree with my bias however if we get stopped out or move SL to entry I will definitely e looking at taking a short on NZDUSD if we come up into these areas.
GJ idea...Okay so higher timeframe breakdown
Weekly - We have a rejection, pin bar from the trendline which is ideal for short positions
Daily - Reacting from the TL also
4h - Bearish PA starting to come into play.
1h -
Target first 139.600 area. 120 pip possibility.
Opinions?
Important levels marked in beige, from weekly and daily charts.
EURJPY SHORT OPPORTUNITIES on 4H CLOSEPrice has broken out of this TL, confirmed a lower low and is now on a resistance level at a structure, 50EMA and the 50 fib level. However it is Monday so I won’t be taking this trade, will look at PA tomorrow morning. This is a perfect set up though, before you take it wait for this 4H close.