Possible bullish breakout for TRY/JPY incoming!Turkish Lira and Japanese Yen dropped a lot recently, and I think a reversal could occur - at least for a short time. Keep an eye out for breakout confirmation in the next few days.
Trylongs
What for a Break out EURTRY Analysis February 8, 2018What for a break out probably below the middle BB and short with targets below 4.4
Positive Tukish Lira swaps-EURTRY analysis for 31.10.2017Traders,
At the moment , we are heavily net short the Euro mostly as advised by technical developments. In the monthly chart, you can notice price action are trending lower in relation to the upper BB. That is despite EURTRY being higher price wise. Stochastics are also over extended and a sell signal is in the process of being printed.
Secondly, in the daily chart, there is a clear bear divergence signal. Price action is trending higher while bears are stepping gas on the sell pedal. To show that, there is a sell signal in place and a three bar reversal pattern called an Evening Star.
I will look for better entries in the 4HR and that is why I believe a sell limit will do the trick here:
Sell Limit: 4.42-4.47
Stop Loss: above 4.48
Stop Loss: 4.2, 4.0
Have a good trading day
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Bests,
Kipyegonn
