USDJPY LNG @ H4
As the investors find some saf heaven in the past week gives some strength to the JPY pairs..
And the USDJPY reaches the major resistance level 109.600 and formed double top
Though its seems like double top JPY finding difficulties in fundamental factor to go bullish. Japan industrial activity is shrinking and BOJ is in the verge for more economic stimulus.
We can find a new support at 109.200 level which is 61.8% Fibonacci and also the 100EMA.
Buy stop may places at this level and the potential take profit will be 109.920
Stop lose may placed at 108.920 which is below the 200 EMA and 50% Fibonacci
Give your valuable comments..
And the USDJPY reaches the major resistance level 109.600 and formed double top
Though its seems like double top JPY finding difficulties in fundamental factor to go bullish. Japan industrial activity is shrinking and BOJ is in the verge for more economic stimulus.
We can find a new support at 109.200 level which is 61.8% Fibonacci and also the 100EMA.
Buy stop may places at this level and the potential take profit will be 109.920
Stop lose may placed at 108.920 which is below the 200 EMA and 50% Fibonacci
Give your valuable comments..
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