USDJPY is on the support level of the DLY KS in extension (blue dotted line). Breaking that level will give us a potential first TP level @ 112.137.
The next level of support is the DLY SSB. Again, breaking that level (+confirmation) might drive the price further down.
Glossary :
WLY = Weekly
DLY = Daily
TS = Tenkan Sen
KS = Kijun Sen
LS = Lagging Span/Chikou Span
TL = Trend Line
Kumo = Cloud, Cloud = Kumo
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
The next level of support is the DLY SSB. Again, breaking that level (+confirmation) might drive the price further down.
Glossary :
WLY = Weekly
DLY = Daily
TS = Tenkan Sen
KS = Kijun Sen
LS = Lagging Span/Chikou Span
TL = Trend Line
Kumo = Cloud, Cloud = Kumo
** THIS ANALYSIS IS MY OWN OPINION AND IS NOT A TRADING OR INVESTMENT ADVICE. ALWAYS TRADE WITH CARE **
Note
Strong reaction of the USD (thank you Mr Powel) but again, ICHI would have saved you from a bad trade. Look at what level the price decided to retrace (KS, blue dotted line).H4 Chart.
Note
DLY, the two Kijun Sen rejected the price. The LS bounced off the price and is now free until the KS level on this TF :
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.