Sell below 111.62. Stop loss at 112.18. Take profit at 110.49.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 111.62 (Fibonacci retracement, minor pullback resistance) for a drop towards at least 110.49 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is approaching major resistance at 94% where we have seen price react off multiple times historically.
Correlation analysis: We’re expecting general JPY weakness with drops expected on EURJPY and USDJPY.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 111.62 (Fibonacci retracement, minor pullback resistance) for a drop towards at least 110.49 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is approaching major resistance at 94% where we have seen price react off multiple times historically.
Correlation analysis: We’re expecting general JPY weakness with drops expected on EURJPY and USDJPY.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。