USD / JPY showed a sharp decline in the south, it seems the bulls are beginning to close their positions, the pair managed to break through a number of strong levels of support (among them the 102.00 figure), now the pair went into a small corrective phase, selling or planning to open at the approach to 102.00 or after a 100.80.
USD/JPY : Under the bears pressure, the couple applied a number of signals a change in trend.
is the pivot point is located at 102.
-opinion: SELL below 102 with target points 100.8 and 100.55.
An alternative scenario: an upside breakout level 102 will open the way to 102.35 and 102.65.
Analysis : the RSI negatively aims, stochastic on the daily chart has formed sale signal.
bearish pattern shooting star candle is not able to face strong bullish power for stochastic classical bullish divergence which is touching this candle at point level 101.70, then now pair is increasing 60 pips above this divergence point and still will continue this bullish although pair now is in small bearish correction before next bullish because two latest bullish hammer candle are appearing here
Never give up, never, never, never (Churchill)
USD / JPY again found a buyer in the area of the horizontal support 101.10, from this level the pair has formed a double bottom but for future growth (and the resumption of the northern long-term trend) is required breakthrough 200 MA (102.40) but he can open the 103.00 and 103.60.
On 4 hour chart is well seen that the pair steadily strengthened below the moving alligator, moreover course again tested their strength as resistance) and currently has again started to southern reduce, sell signal should become a breakthrough zone of the lower fractals (support 101 figure) that will open 100.00.
By checking H1 chart here we can see the price position is still under dailly pivot and the downtrend line there. So, price is might be decline to support 1 @100.71 soon.
FROM ZERO TO HERO
IF YOU THINK YOU CAN, YOU CAN
The past week has shown us the first to jerks on the south side, we see that at the end of the week the price is at the very least a week .. so I think that this is just the beginning .. black candles may still be going on, and so on eye can put the first goal 100 ..
Condition for USDJPY on time frame H1 is bearish, confirmed by price under 102.30 and under MA200 is for short area.
today SNR for USDJPY :
R3 : 106.16
R2 : 104.86
R1 : 103.43
PV : 102.13
S1 : 100.70
S2 : 99.40
S3 : 97.97
MA(200) 102.36
Next target maybe hit S2 : 99.40
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