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Retracement towards support level before next move up in USD

AdamFx42 Posted 27 Nov. as Analysis on USD/JPY, Target: 115.1000, Date: 2nd of January, 12:00 GMT  in #Technical analysis #USD/JPY #Pullback #Support Area #Bullish Pair
Ater failing to break 119 Usd/Jpy seems to have put in a top for now
The price remains below 118, and a retracement from the highs seems to be happening
On the weekly chart we can see the red candles forming and the price starting to move down,
the top is just below 119, and the last big move up on the weekly chart
provides us with a natural retracement towards the 38.2% fibonacci retracement level eventually;
this level lies around 113
We see that the weekly RSI_14 is also extremely high - abov…
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3 Comments
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AdamFx42 4 Dec.

Pair has moved up to 120 - so high was not in place before retracement yet,
it should happen soon though - I stand by a pullback before 120 is broken definately
It has only just pierced the level now, but not can hold above yet

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AdamFx42 10 Dec.

Deeper retracement has started now from a higher level -- near 1.22,
but price has already broken below 118 now - and 115 could be the next target

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AdamFx42 16 Dec.

Deeper retracement has set in now - with Usd/Jpy just above 116,
about 100 pipsabove target now, this weakness should see the pair reach 115 - my target,
before it can reverse now

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USD/JPY nearing point of retracement to enter long

AdamFx42 Posted 13 Oct. as Analysis on USD/JPY, Target: 110.7800, Date: 1st of December, 12:00 GMT  in #Technical analysis #USD/JPY #Fibonacci Expansion #Retracement #Bullish Pair #Fibonacci Level
Usd/Jpy is a strongly bullish pair, technically aswell as fundamentally
On the weekly chart a retracement is currently underway from previous highs
after the pair touched 110
I believe this level will be retaken and broken before too long
The current retracement should stop around the 38.2% fibonacci retracement level
if the pair is still truly bullish
and the price should be on the move up from there
The retracement to the 38.2% level provides us with a 61.8% fibonacci expansion level of above …
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3 Comments
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peachynicnic 13 Oct.

Thanks

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AdamFx42 19 Oct.

retracement stopped around the 50% weekly fibonacci level instead of the 38.2% level, but the large bounce has indicated a reversal/bullish renewance. Pair is now above 38.2% level again, and has broken above the 100SMA for the first time in a long while - these are bullish signs

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AdamFx42 30 Oct.

bullish signs continue as pair has already broken above 38.2% and 23.6% fibonacci resistance,
next target is 100% at 110.08 = previous highs, and then above

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