The USDJPY pair has been on a very aggressive (turned into parabolic) rise since the 2021 Low. It has been above the 1W MA50 (blue trend-line) and the 1W MA200 (orange trend-line) for the whole year. In the past 30 days it broke below the 1D MA50 (red trend-line) but recovered all the losses quickly and is testing the July High.
On this 1W time-frame, the RSI has been on Lower Highs since May 02 and the MACD on a Bearish Cross since July 25. We have seen those formations taking place at the exact same order another 3 times since March 2013.
As you see on the chart, that created at least a Triangle and high volatility that reached (or traded very close to) the 1W MA50. In June 2015, the eventual peak took place a little after those formations, on the 1.5 Fibonacci extension. What this shows though that short-term traders can at least sell towards the 1D MA50 and use it as a pivot and long-term traders average sell positions, targeting the 1S MA50.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
On this 1W time-frame, the RSI has been on Lower Highs since May 02 and the MACD on a Bearish Cross since July 25. We have seen those formations taking place at the exact same order another 3 times since March 2013.
As you see on the chart, that created at least a Triangle and high volatility that reached (or traded very close to) the 1W MA50. In June 2015, the eventual peak took place a little after those formations, on the 1.5 Fibonacci extension. What this shows though that short-term traders can at least sell towards the 1D MA50 and use it as a pivot and long-term traders average sell positions, targeting the 1S MA50.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.