USDJPY: Expanded Flat Could See 108.16 Rejection
已更新
I have been bearish on USDJPY for a while now... My view remains intact as long as prices trade below 108.16.
The current minuette structure suggests an expanded flat is underway, with wave (y) currently in play in the form of a bearish wedge. Should the triangle pattern end up higher, the structure will be completed and prices could start turning lower. That could bring a rather sharp minute wave 4 since wave 2 lasted long (law of alteration). Should the tringle not end higher, that could translate to an invalidation of the expanded flat (minor misses don't matter as much).
The downside potential is marked at 102.50, which is the 100% Fibonacci extension of the 114.55 - 104.50 - 112.40 triangulation.
Should bears take over once again intermediate (Y) will be underway!
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
The current minuette structure suggests an expanded flat is underway, with wave (y) currently in play in the form of a bearish wedge. Should the triangle pattern end up higher, the structure will be completed and prices could start turning lower. That could bring a rather sharp minute wave 4 since wave 2 lasted long (law of alteration). Should the tringle not end higher, that could translate to an invalidation of the expanded flat (minor misses don't matter as much).
The downside potential is marked at 102.50, which is the 100% Fibonacci extension of the 114.55 - 104.50 - 112.40 triangulation.
Should bears take over once again intermediate (Y) will be underway!
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
註釋
Only 40 pips away from expanding flat pattern validation now!註釋
Rejection exactly at 108.16! Keep a close eye on this one.註釋
We are trading at a potential reversal point at 108.166註釋
Need break back inside descending channel now
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。