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USDJPY

USD/JPY ---> Will the Bulls Recognize the False Breakout?Dear friends! Overall, USD/JPY, after hitting support and forming a false breakout below the local trend channel's lower boundary, the currency pair has resumed its upward movement, supported by the strengthening dollar at this time. Currently, the price has stabilized above the support level but remains below the 34 and 89 exponential moving averages (EMA). Fundamentally, the recent context has been unstable and depends more heavily on US economic data. People have long forgotten about interest rate growth in Japan and are focusing on economic data from the West. On the chart, the uptrend remains the primary trend, so we maintain a buying preference. If the pair can consolidate above 152.00, then in the short and medium term, we should expect prices to reach the targets as indicated on the chart. Best regards, Bentradegold!
Long
by Bentradegold
USDJPY H4 | Bearish FallBased on the H4 chart, price is approaching our sell entry level at 153.880, which aligns with a key resistance zone and the 61.8% Fibonacci retracement. A rejection from this level could trigger a bearish move towards our take profit at 152.805, which sits near a previous support level. The stop loss is set at 154.853, above the previous swing high, ensuring the bearish setup remains valid while allowing for minor fluctuations. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
USD/JPY Trading Plan: Resistance in Focus Before the Next DropSince the beginning of the year, USD/JPY has been in a bearish trend, with the price dropping from 159 to 151. After reaching support around the 151 zone following Friday's NFP, the price started to reverse upward and is currently trading at 153.63. In my view, this is just a correction of the initial leg down, and once resistance is reached, the price is likely to resume its downward trend. The sell zone starts above 154 and extends to 155, where I will be looking for selling opportunities. In the medium term, the price could drop to 146, with the first major support at the recent low of 151. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by Mihai_Iacob
Heading into 50% Fibonacci resistance?USD/JPY is rising towards the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 153.24 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 154.61 Why we like it: There is a pullback resistance level that aligns with the 56.4% Fibonacci retracement. Take profit: 151.06 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
USD/JPY Bullish Outlook Can the Pair Hit 160.00? Key Levels USD/JPY is trading at approximately 152.50. Your target price of 160.00 suggests an anticipated upward movement of 750 pips. This projection aligns with a bullish outlook, potentially driven by support and resistance dynamics. Recent technical analyses indicate that USD/JPY has tested the 152.55 resistance level and experienced a bearish pullback, maintaining a negative outlook in the near term. Analysts anticipate a retest of the 151.05 support level, with a potential decline toward 149.80 if this support is breached. The pair is currently trading near its 200-day EMA, a critical indicator for trend direction. A decisive move above this level could signal a continuation of the upward trend toward your target. However, failure to break above may result in consolidation or a potential downturn. Key support levels to monitor include 151.12 and 148.42, while resistance levels are identified at 152.77, 154.39, and 155.52. A sustained break above these resistance levels would bolster the bullish case toward the 160.00 target. Conversely, a decline below the support levels could invalidate the bullish scenario In summary, while the USD/JPY pair exhibits potential for an upward move toward 160.00, traders should closely monitor key support and resistance levels, as well as the 200-day EMA, to confirm the bullish trend. Staying informed about fundamental factors influencing the USD/JPY pair will also be crucial in making informed trading decisions.
Long
by AndrewsMarket-Mastery
USDJPY The Target Is DOWN! SELL! My dear followers, I analysed this chart on USDJPY and concluded the following: The market is trading on 152.25 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 151.93 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
USDJPY H1 | Falling to swing-low supportUSDJPY is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 151.60 which is a swing-low support that aligns with the 61.8% Fibonacci retracement level. Stop loss is at 150.82 which is a level that lies underneath a multi-swing-low support. Take profit is at 153.16 which is an overlap resistance that aligns under the 50.0% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
Short opportunity coming in 1H ?$151.850 is a major resistance and support area. USDJPY failed to reclaim the recent ATH and it is currently hovering around that major R/S area. All daily momentum indicators are in the bear zone so my overall bias is bear. When you look at 1H RSI, you can see the RSI lines are travelling inside the ascending parallel channel. I will open a short position IF the RSI lines breaks below the bottom ascending line, and 1H candle closes below EMA 21and the major R/S line, I am going to use a 15 min chart to find an entry. You can see the idea for the trading entry, S/L and, P/T in the 15 min chart.
Short
by EbonyFalcon
2
GBP/NZD: Bearish Outlook Confirmed by Head and ShouldersThe GBP/NZD exchange rate at NZ$2.1922 reflects a persistent downtrend, confirming recent weakness in the British Pound against major counterparts. The formation of a head and shoulders pattern on the daily chart suggests further downside risk, with the pair testing key support levels. Market fluctuations between NZ$2.1754 and NZ$2.22 highlight ongoing volatility driven by external economic factors, including U.S. tariffs and mixed macroeconomic data from both the UK and New Zealand. The Pound remains under pressure due to inflation concerns and lackluster GDP growth, while the NZD struggles to capitalize on the Pound’s weakness amid subdued domestic data. The technical setup and broader macroeconomic landscape signal a potential continuation of bearish momentum for GBP/NZD.
Short
by EdgeTradingJourney
1
Levels discussed on Livestream 10th Feb 202510th Feb 2025 DXY: Could trade down to 108 (or consolidate here) before climbing higher to 108.90 or 109 (61.8%). NZDUSD: Sell 0.5620 SL 20 TP 70 (hesitation at 0.5580) AUDUSD: In abit of a range, look for test and reaction at 0.6363 resistance level. GBPUSD: Sell 1.2350 SL 30 TP 85 (watch the trendline) EURUSD: Sell 1.0290 SL 25 TP 65 USDJPY: Buy 152.40 SL 40 TP 80 EURJPY: Sell 156.25 SL 40 TP 80 GBPJPY: Buy 189.70 SL 60 TP 200 USDCHF: Do nothing, middle of S/R USDCAD: Buy 1.44 SL 30 TP 60 XAUUSD: Retracing now, needs to stay above 2870, could trade up to 2910
TVC:DXY
by JinDao_Tai
USD/JPY "The Ninja" Forex Market Bearish Heist Plan🌟Hi! Hola! Ola! Bonjour! Hallo!🌟 Dear Money Makers & Robbers, 🤑 💰 Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the USD/JPY "The Ninja" Forex market. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Green Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 👀 Be wealthy and safe trade.💪🏆🎉 Entry 📉 : Traders & Thieves with New Entry A Bear trade can be initiated at any price level. however I advise placing sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest high level should be in retest. Stop Loss 🛑: Using the 4h period, the recent / nearest high level Goal 🎯: 153.000 (or) Before escape in the market Scalpers, take note : only scalp on the Short side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰. 📰🗞️Fundamental, Macro, COT, Sentimental Outlook: The USD/JPY "The Ninja" Forex market is currently experiencing a mixed market sentiment. Here's a breakdown of the factors influencing its movement: ⚪Fundamental Analysis: - The Bank of Japan's (BoJ) recent interest rate hike decision has strengthened the Japanese Yen, making it a safe-haven asset. - The US Federal Reserve's dovish stance on interest rates has put downward pressure on the US Dollar. 🟤Macroeconomic Analysis: - The divergent policy expectations between the Fed and BoJ might continue to act as a tailwind for the currency pair. - Trade war fears could limit any downside movement. 🟠Commitment of Traders (COT) Report: - Non-Commercial Traders (Speculators): Net short USD/JPY by 24,444 contracts, indicating a bearish sentiment. - Commercial Traders (Hedgers): Net long USD/JPY by 15,101 contracts, indicating a bullish sentiment. - Small Traders (Retail): Net short USD/JPY by 9,343 contracts, indicating a bearish sentiment. 🟣Sentimental Analysis: - Trader sentiment is mixed, with some investors expecting a bullish movement due to the BoJ's hawkish stance, while others are bearish due to the Fed's dovish stance. - Market sentiment is cautious ahead of the Fed's interest rate decision. 🟢Institutional and Retail Market Analysis: - Institutional investors are watching the currency pair closely, awaiting the Fed's decision before making any significant moves. - Retail investors are also cautious, with some taking long positions on the Yen due to its safe-haven status. 🔵Outlook: - Based on the analysis, the USD/JPY currency pair is expected to move into a bearish direction in the short term, with a target level of 153.00. However, the movement is likely to be volatile, and investors should be cautious ahead of the Fed's interest rate decision. ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 📌Please note that this is a general analysis and not personalized investment advice. It's essential to consider your own risk tolerance and market analysis before making any investment decisions. 📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly. 💖Supporting our robbery plan will enable us to effortlessly make and steal money 💰💵 Tell your friends, Colleagues and family to follow, like, and share. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🫂
Short
by Thief_Trader
USD/JPY "The Gopher" Forex Market Bullish Heist Plan🌟Hi! Hola! Ola! Bonjour! Hallo!🌟 Dear Money Makers & Robbers, 🤑 💰 Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the USD/JPY "The Gopher" Forex market. Please adhere to the strategy I've outlined in the chart, which emphasizes long entry. Our aim is the high-risk Red Zone. Risky level, overbought market, consolidation, trend reversal, trap at the level where traders and bearish robbers are stronger. 🏆💸Be wealthy and safe trade.💪🏆🎉 Entry 📈 : "The heist is on! Wait for the breakout (156.500) then make your move - Bullish profits await!" however I advise placing Buy limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest low or high level should be in retest. Stop Loss 🛑: Thief SL placed at 154.700 (swing Trade) Using the 2H period, the recent / nearest low or high level. SL is based on your risk of the trade, lot size and how many orders you have to take. Goal 🎯: 160.000 (or) Escape Before the Target Scalpers, take note 👀 : only scalp on the Long side. If you have a lot of money, you can go straight away; if not, you can join swing traders and carry out the robbery plan. Use trailing SL to safeguard your money 💰. 📰🗞️Fundamental, Macro, COT, Sentimental Outlook: USD/JPY "The Gopher" Forex Market market is currently experiencing a bullish trend,., driven by several key factors. 🔰 Fundamental Analysis The USD/JPY pair is currently extending gains above 155.50, driven by resurgent US dollar demand due to global trade war concerns. The Bank of Japan's (BoJ) Summary of Opinions has had little impact on the pair. 🔰 Macroeconomics The US economy is expected to slow down, with the Gross Domestic Product (GDP) growing at an annual rate of 2.3% in the fourth quarter, below market expectations. In Japan, consumer prices in Tokyo rose in January, keeping hopes alive for further BoJ policy tightening. 🔰 COT Report The latest CoT report shows that speculative traders are net long on the USD/JPY pair, indicating a bullish sentiment. However, it's essential to note that the CoT report is a lagging indicator and may not reflect current market conditions. 🔰 Market Sentiment Market sentiment is currently bearish, with 55% of traders expecting a decline in the USD/JPY pair. However, this sentiment can change rapidly, and it's essential to monitor market news and events. 🔰 Institutional and Retail Banks Positioning Institutional traders are net long on the USD/JPY pair, while retail traders are net short. This divergence in positioning can lead to a potential bullish move in the pair. 🔰 Overall Outlook Based on the analysis, the USD/JPY pair is expected to move in a bullish trend, with a 60% chance of an uptrend and a 40% chance of a downtrend. However, it's essential to monitor market news and events, as they can impact the pair's direction. ⚠️Trading Alert : News Releases and Position Management 📰 🗞️ 🚫🚏 As a reminder, news releases can have a significant impact on market prices and volatility. To minimize potential losses and protect your running positions, we recommend the following: Avoid taking new trades during news releases Use trailing stop-loss orders to protect your running positions and lock in profits 📌Please note that this is a general analysis and not personalized investment advice. It's essential to consider your own risk tolerance and market analysis before making any investment decisions. 📌Keep in mind that these factors can change rapidly, and it's essential to stay up-to-date with market developments and adjust your analysis accordingly. 💖Supporting our robbery plan will enable us to effortlessly make and steal money 💰💵 Tell your friends, Colleagues and family to follow, like, and share. Boost the strength of our robbery team. Every day in this market make money with ease by using the Thief Trading Style.🏆💪🤝❤️🎉🚀 I'll see you soon with another heist plan, so stay tuned 🫂
Long
by Thief_Trader
XAU/USD : Possible Correction Ahead? (READ THE CAPTION)By analyzing the gold chart on the 30-minute timeframe, we can see that after yesterday's last analysis, the price corrected to $2858 as expected. However, it quickly rebounded, surging 240 pips to reach a new all-time high at $2882! Today, we finally witnessed some correction from $2882 down to $2848, and gold is currently trading around $2868. If the price manages to stabilize below $2873.5 and experiences a strong rejection from this level, we might even see a correction down to levels below $2850. With increased market volatility and key macroeconomic events on the horizon, traders should stay cautious. Price action around these levels will be critical in determining the next move, as gold continues to react to fundamental drivers such as inflation data and geopolitical developments. Monitoring price behavior near support and resistance levels will be essential for identifying potential trade opportunities. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
FX_IDC:XAUUSDShort
by ArmanShabanTrading
32
USDJPY Will Go Up! Long! Please, check our technical outlook for USDJPY. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 152.244. Taking into consideration the structure & trend analysis, I believe that the market will reach 155.085 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
USD/JPY: What's Changing at Year-End?Hello, dear friends! As the year comes to a close, USD/JPY has shown significant movement, reversing course and dropping below the 157.00 mark. This late-year shift comes as market participants prepare for midweek closures and reduced activity around the New Year holiday. Despite lighter trading volumes, price action remains dynamic, signaling potential shifts in the trend. Technically, USD/JPY has failed to maintain its position within the parallel ascending channel, suggesting the emergence of a new trend. A key level to watch now is the immediate support at 156.03. The critical question is whether this support will hold and for how long. Looking at the bigger picture, sustained consolidation below the broken channel could lead to a move toward lower targets, as indicated on the 4-hour chart. If you find this idea insightful, don’t forget to leave your thoughts in the comments below and share it with your network. Your support gives me immense motivation to continue sharing valuable experiences and strategies in the forex market. Let's conquer this journey together!
Short
by Bentradegold
USDJPY: Correction before dropping to 153.00-152.00Hello everyone, Ben here! USDJPY has yet to resume its upward trend. Rumors about potential actions from the Bank of Japan (BoJ) are beginning to surface. Meanwhile, the US dollar continues to gain strength. The 158.46 level represents a strong resistance zone established by the sellers. Strong expectations for an additional interest rate hike by the BoJ this week are also lending support to the JPY. Overall, this influence appears relatively weak but could still provide significant backing for this currency pair. In theory, any upward movement of this major pair might be limited due to trade policy risks from the soon-to-be-inaugurated US President Donald Trump, which have constrained any significant bullish moves for the safe-haven JPY. The focus this week will be on Trump’s inauguration speech on Monday and the highly anticipated two-day BoJ policy meeting beginning on Thursday. From a technical standpoint, the price is attempting to break out of a major range and test key support levels. A false breakout around the 156.56 level could lead to the price targeting newly formed resistance zones. However, if the price settles below 156.56 or even drops under 155.95, it could trigger strong selling pressure sooner than expected. Best regards, Bentradegold!
Short
by Bentradegold
JPY | USDJPY Weekly FOREX Forecast: Feb 10-14thThis forecast is for the upcoming week, Feb 10-14th. The Yen has been week for an extended amount of time, underperforming against the USD. But the tide is changing over the last 6 weeks. As the USD is reacting to a HTF selling zone over the this period of time, the Yen has been getting stronger. The potential is there for the YEN to start retracing to the upside. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Long
by RT_Money
UJ Bears Break Andrew's Pitchfork, Time To Short??Based on the Aug. 5th Low (A), Aug. 15th High (B) & Sept. 16th Low (C) we are able to project an Up-trending Andrew's Pitchfork. After price makes a Fibonacci Retracement to the Golden Ratio (61.8%) of the Pitchfork Range, price falls to the Previous High or Point of Interest finding support to then rise and stall out at the Linear Regression or True Trendline of the Pitchfork and is unable to sustain the Higher High to only fall again while this time breaking the Rising Support of the Pitckfork. Price may continue to fall to the POI before finding support again @ the 148 - 149 range but we should expect price to retest the Break of Rising Support @ the 155 - 156 range. -If support turns resistance and holds price, this will deliver great shorting opportunities to take down to the POI and potentially all the way to the Range Target of 139 - 142! *If price ascends back into the Pitchfork range, price action is considered a False Breakout. Fundamentally, so far Feb. has been a trying month for USD where we saw last Friday, Non-Farm Employment Change came in @ 143k ( 164k Decrease from last month @ 307k which was revised up from 256k) with only a .1% down tick in Unemployment to 4%. This Week: USD Tues - Powell Speaks Wed - Core CPI/CPI, Powell Testifies Thus - Core PPI/PPI, Unemployment Claims Fri - Core Retail Sales/Retails Sales
Short
by Novi_Fibonacci