www.varchev.com

USD / JPY: Signals for decrease

USD / JPY Forex Technical Analysis D1 | Our expectations:

Trend – short, medium movement long. The price has reached an extremely strong level of resistance, which gives a good opportunity for near-stop entry and good risk/reward ratio.

Price in area of ​​diagonal resistance.

Price action: Pin bar of a resistance level

Indicators:
Price above 50 and 200SMA.
DeMarker in neutral territory.
Sequential gives 9 for decrease.

Fundamentals: Traders are worried about a possible renewal of geopolitical tensions in the Middle East, that could drive them to seek shelter in safe havens.

SL: 111

Alternative scenario: A break above the resistance zone will most likely lead to a new upward impulse.


 Trader Georgi Bozhidarov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance