Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
USDJPY is in a correction after checking the local support level.
2019-11-19 • Updated
On the H4 chart of USDJPY, the US dollar started the day checking the support level of 108.58, which was formed yesterday. After dropping to this mark, the price bounced back up but did not reach the local resistance. The Parabolic SAR indicates that this is most probably a temporary correction within a larger trend down. Therefore, the bears may open shorts before the price aims to test again the support of 108.58. If it is broken, the next target may be located at 108.33. The bulls may place the resistance levels at 108.67, 109.00 and 109.10.
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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.
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