USD/JPY Look Ahead for week starting 12/01/19
The Dollar-Yen is in a Correction on the weekly as part of a side ways consolidation going back to 2017. Price has climbed back above the 50 week ema and the 200 week ema, yet the 50 week ema is still below the 800 week ema.
The Pair is in a Bear Market Rally on the daily, with price above the 50 ema trending upwards. Expect resistance to appear at the 800 ema at 109.796. Appears to be finishing up a rally having traded up from the longer term W-Formation that formed down at 105. With a Harami and a bunch of shooting stars showing up in the last several trading days, this pair looks toppy. A break of the lower trend line would confirm a continuation of the longer term down-trend.
The Pair is completing a rally up from a multi-day W bottom formation on the four-hour. The four-hour chart posted really shows the a-b-c pattern that is being finished up. Price is starting to close under the 13 ema, signaling an eminent reversal. Good time to start looking for a peak formation on lower time frames.
This is my USD/JPY look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.
The Pair is in a Bear Market Rally on the daily, with price above the 50 ema trending upwards. Expect resistance to appear at the 800 ema at 109.796. Appears to be finishing up a rally having traded up from the longer term W-Formation that formed down at 105. With a Harami and a bunch of shooting stars showing up in the last several trading days, this pair looks toppy. A break of the lower trend line would confirm a continuation of the longer term down-trend.
The Pair is completing a rally up from a multi-day W bottom formation on the four-hour. The four-hour chart posted really shows the a-b-c pattern that is being finished up. Price is starting to close under the 13 ema, signaling an eminent reversal. Good time to start looking for a peak formation on lower time frames.
This is my USD/JPY look ahead for my own trading purposes. FOREX trading involves risk. Feel free to comment, but trade off of this post at your own peril.
