USDJPY: Weekly Inside Bar and NR WeekFundamentals :
See previous notes on USDJPY
Technicals :
NR3 - Narrow Range Week
IB - Inside Bar
Target = 118
Nr3
PolyOne - Long - Swing Trade
Picked this up from the weekly scan ended the week with a NR3 and NR7 combo.
The weekly bar also ended with a hammer-like shape with a slight upper shadow.
The Fib on the Weekly shows the next resistance level at ~$30
Break-out Signal on -2w bar
Prices closed just above fast EMA on the weekly, with the slow EMA hovering around $29 (a bit lower than I would have hoped.)
Overall volume in 2016 has been higher than Q4-15, while prices appear to establishing a 'base' between $23 and $26 during 16'
Bull Flag on the Daily Chart with a NR7 + hammer-like bar on the last day, with support from the rising EMA that has just crossed-over late last week
Volume had been contracting throughout the week, until Friday
However, the Daily NR3+7 combo painted earlier this week did NOT immediately yielded anything!
Long entry above the bull flag pole with Target set just under $30
