1. Breakout of ascending triangle trigered a move lower of about 680 pips from december 18 2018 to january 3 2019 flash crash. Technically, USDJPY is bearish. 2. Previous support turns resistance by the breakout of the ascending triangle. 3. Recovery of the flash crash of January 3 2019 breached, creating new levels of demand and supply. 4. price currently trading at a confluence zone ie resistance level and supply zone. Current risk of this zone is today NFP and unemployment numbers to be released at 12:30 GMT ACTION: We will be looking for bearish price action to go short and targetting the demand zone Alternatively, a daily close above confluence zone around 112.3 will negate our bearish out look for now and drive prices higher to 114.00
Сделка активна
price in our zone.... a hammer formation... we have therefore taken a short position 111.913 with a stop loss at 112.480... First target @ 111.00 second target @ 109.862
Сделка активна
The week end gap down on the pair helped us achieved our first target......
next target @ 109.862 LOADING.....=========............
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