Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/JPY: sell the USD
2019-11-11 • Updated
Recommendation:
SELL 112.1 SL 112.65 TP1 111.1 TP2 110 TP3 109.6
On the daily chart of USD/JPY, bears try to implement the combination of the "Three Indians" and "Spike and Ledge" reversal patterns based on the 1-2-3 one. They also try to pull the pair out of the triangle's borders and the lower border of the upward channel. If they succeed, the risks of the bullish trend's reversal and the fall towards the 88.6% target of the "Shark" pattern will increase.
On H1, if the support at 112.1 is broken, the "Crab" pattern will be implemented again. The 161.8% target of this pattern comply with the 109.6 level.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...