Trying to make a longterm forecast for the USDJPY. There are few signs that we might should expect a reversal here, despite the bearish channel.
So beginning a top down analysis from the longterm charts to the shorterm we got :
Monthly chart 1) 50% Fib Retracement level reached but not violated. 2) 3 big monthly spikes in a row !!. Sign that this level is crucial 3) Stochastic index just crossed from the oversold (currency is falling since 06/2015)
Weekly chat 1) Double bottom with RSI bullish divergence
Daily chart 1) Triple Bottom tested 99.500-100.500 level, didn't violated it 2) Rsi bullish divergence again
We could see 2 major reversal zones which was both tested several times in the past. I believe though that now IS NOT A GOOD TIME TO GET LONG as we should expect a retracement around at 102.000 area (previous resistance in lower time frames) in order to get better risk to reward ratio. Daily candle is not good to get long from now as well
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.