USDJPY WILL THE SELLERS TAKE CONTROL? TARGET 109.700
Good evening from the UK. Well with the uncertainty with the US Government it has left the US pairs for the taking. The dollar index has been on the decline recently with a Doji closure today due to the lack of movement for this pair.
What I have hear on the 4H timeframe is a ascending trend-line have a 3rd trendily break and a retest. To text book at a recent high you would expect a continuation to the downside to meet with point of the trend lines Price in which is 109.700. Before this we need to test levels of resistance which is currently a purple daily key level and 38.20% fibonacci level. We could see a rally of manipulation spike to the upside before downwards continuation.
I will be monitoring this closely to find the right entry over the next 12 hours.
What I have hear on the 4H timeframe is a ascending trend-line have a 3rd trendily break and a retest. To text book at a recent high you would expect a continuation to the downside to meet with point of the trend lines Price in which is 109.700. Before this we need to test levels of resistance which is currently a purple daily key level and 38.20% fibonacci level. We could see a rally of manipulation spike to the upside before downwards continuation.
I will be monitoring this closely to find the right entry over the next 12 hours.
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