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24.05.202209:59 Forex Analysis & Reviews: USDJPY Potential For Bearish Continuation | 24th May 2022

Exchange Rates 24.05.2022 analysis

On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.099 where the 38.2% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 126.988 in line with the 78.6% Fibonacci projection and horizontal swing low support. Price may break through the 1st support and head for the 2nd support at 125.981 where the 100% Fibonacci projection is. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 128.869 where the horizontal swing high resistance and 61.8% Fibonacci retracement are.

Trading Recommendation

Entry: 128.099Reason for Entry:38.2% Fibonacci retracement and Horizontal overlap resistanceTake Profit: 126.988

Reason for Take Profit:78.6% Fibonacci projection and Horizontal swing low support

Stop Loss: 128.869Reason for Stop Loss:

Horizontal swing high resistance and 61.8% Fibonacci retracement

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2022
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EURAUD Potential For Bullish Continuation | 5th July 2022
On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 1.04882 at the overlap resistance in line with the 50% fibonacci retracement to the 1st support at 1.03483 at the swing low in line.
Author: Dean Leo
04:55 2022-07-05 UTC--4
4348
GBPUSD Potential For Bearish Continuation | 5th July 2022
On the H4, with prices moving below the ichimoku indicator, we have a bearish bias that price will rise and drop from our 1st resistance at 1.21570 where the horizontal overlap resistance and 50% fibonacci retracement are to our 1st support at 1.19313 where the horizontal swing low support and 100%.
Author: Dean Leo
04:47 2022-07-05 UTC--4
3508
ETHUSD, Potential For Bearish drop | 5th July 2022
On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop from the 1st resistance at 1177 in line with the horizontal pullback resistance and 61.8% Fibonacci retracement to the 1st support at 1087 in line with the horizontal pullback.
Author: Dean Leo
04:45 2022-07-05 UTC--4
3433
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