Skip to main content

Usdjpy testing critical resistance

As advised in an earlier post , usdjpy rallied from 112.60¥ and currently testing 113.50¥ which is around 78% fibconnaci retracment level

A short position can be opened at current level with target 112.80¥ and stoploss on any 1h candle close above 113.50¥ . A break above 113.50¥ will send the pair to 114.60¥ area. RSI indicator is currently sitting at 70 mark . 

There is no much of economic data today , key event will be CPI inflation data to be released at 13:30 GMT.

Labels:

Popular posts from this blog

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.
Read more

BDC/BTC target and resistance levels

#Dbcbtc is targeting 0.0000001730 btc. It is starting to build up a bullish trend on small time frames. It will be a challenging area to break given the bearish trendline as well. Deepbrainchain is one of solid crypto projects that have a good profitable future. #Investincrypto
Post a Comment
Read more

Ripple consolidating before break out

Ripple (XRP) is currently consolidating against USD before breaking out within the coming 48 hours. Next resistance lies at 1.25$ while next support lies at 1.120$. Ripple is currently trading at support and you can buy with tight exit with target around 2.30$ , first profit taking around 1.84$ if we break out of the wedge to the upside.
Read more