Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/JPY Fibonacci analysis: close to test a strong support
2019-11-11 • Updated
USD/JPY has been following a bearish channel since last week and it looks like that the path is driving towards the Fibonacci retracement zone of 50% and 65% at 111.64 and 110.79 respectively. USD weakness is fueling the current move and a consolidation could happen over there. Also because the 200 SMA is trying to provide dynamic support. If that happens, the pair will run towards -23.6% Fibo level at 115.82.
RSI indicator is still in the negative territory, but it’s pointing to the upside.
Similar
Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...