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24.11.202106:27 विदेशी मुद्रा विश्लेषण और समीक्षा: USDJPY short term bearish drop | 24th Nov 2021

Exchange Rates 24.11.2021 analysis

On the H4 timeframe, price is abiding to the ascending trendline support, signifying an overall bullish momentum. However, price has approached the 1st resistance in line with 61.8% Fibonacci projection and previous swing high hence, we can expect a potential short-term retracement. We can expect price to drop from 1st Resistance towards 1st Support in line with 61.8% Fibonacci projection and 50% Fibonacci retracement. Our short-term bearish bias is further supported by the stochastic indicator where the %K line is at the resistance level.

Trading Recommendation

Entry: 115.305

Reason for Entry:

61.8% Fibonacci projection and horizontal swing high

Take Profit: 114.466

Reason for Take Profit:

61.8% Fibonacci projection and 50% Fibonacci retracement

Stop Loss: 115.758

Reason for Stop Loss:

100% Fibonacci projection

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

Dean Leo,
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© 2007-2022
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On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.992 where the 61.8% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 128.188 in line with the horizontal swing low support..
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