Fundamentals:
- BOJ has not express additional stimulus despite pressure from other central banks
- A weaker USD due to economic data
Technically:
- Yen and Nikkei at 2015 high so pullback is healthy
- 4 hour is showing potential H&S formation
- RSI has rooms to fall
- From the breakout level, Fib of 38.2% is a healthy and viable target
If Head & Shoulder play out this is the target which coincide with the minor support and 38.2% retracement at 122.45 - 122.70 levels.
Entry@ 123.70
Stop@ 124.20 (-50)
Target@ 122.70 (100)
RR of 1:2
After the pullback-usdyen is still a bullish market-consider switch to long
- BOJ has not express additional stimulus despite pressure from other central banks
- A weaker USD due to economic data
Technically:
- Yen and Nikkei at 2015 high so pullback is healthy
- 4 hour is showing potential H&S formation
- RSI has rooms to fall
- From the breakout level, Fib of 38.2% is a healthy and viable target
If Head & Shoulder play out this is the target which coincide with the minor support and 38.2% retracement at 122.45 - 122.70 levels.
Entry@ 123.70
Stop@ 124.20 (-50)
Target@ 122.70 (100)
RR of 1:2
After the pullback-usdyen is still a bullish market-consider switch to long
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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.