Quote:
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Originally Posted by sc.david
USDJPY H4 CHART
DOWN TREND, BUT THERE ARE REVERSAL SIGNALS:
- A BREAK-OUT FROM "S+" moves our Target to "T1 ( 99.21)"
- a BREAK-OUT FROM "R+" MOVES INITIAL TARGET TO "T3 (103.98)" WHERE WE MIGHT EXPERIENCE SLIGHT RETRACEMENT
BACK TO "T2";ranging between support and Resistance Respectively, 102.80 and 103.98
AFTER AND A CLOSE BELOW "T3" WILL GIVE US A GOOD SHORT POSITION.
THERE ARE MORE TENDENCIES FOR A USDJPY TO RANGE UP TO "T3", AFTER WHICH WE WILL RECEIVE A GOOD
SHORT POSITION TO "T1"
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HAVING OUR TARGET BEACHED!,
WE BRING TO YOU LATEST FORECAST.
USDJPY: H1 CHART
A CHOPPY MARKET/RANGE,
A BREAK-OUT FROM EITHER SUPPORT OR RESISTENCE,
TAKES US THAT DIRECTION.BUT THERE ARE MORE CHANCES
FOR A BREAK-OUT FROM SUPPORT.
A SUCCESFUL BREAK-OUT FROM SUPPORT LEADS US TO THE
WEEKLY CHART::
USDJPY: WEEKLY CHART
AS WE CAN SEE, THERE WAS A PERFECT BREAK-OUT FROM S+,
AND THIS HAS BEEN CONFIRMED ON BOTH THE DAILY AND H4 CHARTS,
THIS BREAK-OUT LEADS US TO "T1 (89.33)".
AND ALSO, PRICE MIGHT GET TO "S-", BEFORE WE EXPECT A DOULBLE
ACTION SECENE.
THIS MIGHT BE A BREAK-OUT OR A REBOUNCE OFF S-.
AT THIS POINT UPDATE WILL BE BROUGHT TO YOU.