This would be a very good short if it breaks the Trend line. would expect price to go back down to at least 1.27
taking a wild guess on a head & shoulder forming. didn't get the down momentum that i would have liked. so i've been watching that 50 fib level. going to re-enter for DXY short when price reaches yellow line.
looking to switch sides on my USD trades. if it goes above the red line i might look to got back to my original positions. at this point we can only wait and see what happens.
I'm currently short and looking to get out at around the 100, 103 price range. There's alot of support and resistance at those levels. I'll be looking for Long setup, in the future.
I was looking for the pair to bounce off of the purple line somewhere. but it looks like the pair will continue to go down, maybe to new weekly lows. waiting for a solid move below the red line before i commit to the position.
I entered short just before the market closed last week. i'm going to close that short at the purple line to look for one more move up by the bulls. When i go long i'm going to look for a double top in the blue box or a break above. If it double tops i'll return to a short position. where i entered my short position:
Going to extend my target from the .618 (Orange line) i had in mind. want to see if the price will bounce off of one of the two channels that may or may not exist.
General consensus is that USDJPY will continue it's downward trend. I'm going to join in short at some point when the price reaches the blue box.
will switch to long position if it hits the target
looks like there's a correction happening before GBPJPY will continue its down trend. noob trader here, just wanted to put this idea out there as something you might want to look out for.