2019-11-11 • Updated
On the USD/JPY daily chart, the bulls with the help of a gap reached the resistance at 110.2. It corresponds to the lower boundary of the 110.2-111.55 consolidation range. As a result, the Wolf Waves pattern was formed. A breakout of 110.2 and 111.15 levels can lead to the implementation of 112.5 and 112.9 targets.
On the USD/JPY hourly chart, there is a formation of the Dragon reversal pattern. Update of the high of today's trading day (110.55) or closing of the gap with a subsequent rebound from the upper boundary of the previous downward trading channel will create the prerequisites for opening long positions.
Recommendations: BUY 110,55 SL 110 TP 112,5, BUY 109,5 SL 108,95 TP1 111,45 TP2 112,5.
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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...
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