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Forex Analysis & Reviews: USDJPY Potential For Bearish Continuation | 15th August 2022
time 15.08.2022 12:27 PM
time Relevance up to, 16.08.2022 12:27 PM

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On the H4, prices are still respecting the descending trend and are testing the 61.8% fibonacci retracement. If prices continue with the bearish momentum, we are looking at price pulling back to test at the first support 131.785 where the fibonacci projection as well as the previous swing low sits, subsequently testing the second support at 130.440. Alternatively if prices fail to continue with the bearish trend, we are expecting prices to test at the intermediate resistance 133.919. If it breaks that resistance and confirms bullish momentum, prices will test at first resistance 134.525 where the 78.6% fibonacci retracement sits.

Trading Recommendation

Entry: 133.919

Reason for Entry:

pullback resistance

Take Profit: 131.785

Reason for Take Profit:Swing low support 61.8% fibonacci projection

Stop Loss: 134.525

Reason for Stop Loss:

Pullback resistance

Dean Leo,
Analytical expert of InstaForex
© 2007-2022
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NZDUSD Potential for Bearish Drop | 25th November 2022
On the H4 chart, we have a bullish bias with the price moving above the Ichimoku cloud and has broken out of the ascending channel. If this bullish momentum continues, expect the price to continue heading towards the 1st resistance line at 0.63525, where the 88% Fibonacci line is. Alternatively,.
Author: Dean Leo
06:38 2022-11-25 UTC--5
10318
AUDUSD Potential for Bullish Continuation | 25th November 2022
Looking at the H4 chart, my overall bias for ADUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Expecting price to continue heading towards the 1st resistance at 0.67711 where the 61.8% Fibonacci line is. If this 1st resistance line is broken,.
Author: Dean Leo
06:24 2022-11-25 UTC--5
8173
ETHUSD Potential For Bearish Continuation | 25th November 2022
Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market .If this bearish momentum continues, expect price to possibly head towards the 1st support at 1071.11, where the -previous swing low is located. In an.
Author: Dean Leo
06:20 2022-11-25 UTC--5
7138
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