It seems short term bottom is most probable in place, the shooting star and evening star shown on the chart will prevent the pair to move higher at least for a while, I prefer to go short at 1.0780 with SL at 1.0855(slightly above the shooting star), targets are 1.0685, and 1.0635 respectively with Risk to reward ratios of 1: 127 and 1:1.93, the pair is most...
USD/JPY broke it's price channel, the channel lasted for approximately one month, the bearish momentum increased with MACD crossing below zero line.
If the pair reversed to retest the above mentioned channel and at the same time failed to capture momentum by at least closing above the lower channel line on daily basis, this will create a selling opportunity...
After soaring higher this week, an exhausted shooting star was formed on 120 m TF, the rejection was confirmed by the second bar, I prefer to sell short on the selling zone between 0.7800-0.7810, SL immediately above shooting star candle, the first take profit target will be 0.7735, second 0.7675, and the third 0.7610, the Risk to reward ratios: 1:1.625,...
