06.12.202107:43 Forex Analysis & Reviews: USDJPY short-term bullish bounce | 6th Dec 2021

On the H4 timeframe, price broke out of the ascending trendline support, signifying a bearish momentum. However, we can expect price to make a small retracement from 1st Support in line with 78.6% Fibonacci projection towards 1st Resistance in line with 38.2% Fibonacci retracement and 100% Fibonacci projection. Our short-term bullish bias is further supported by the stochastic indicator where the %K line is abiding to the ascending trendline support.

Trading Recommendation

Entry:112.740

Reason for Entry:

78.6% Fibonacci projection

Take Profit: 113.559

Reason for Take Profit:

38.2% Fibonacci retracement and 100% Fibonacci projection

Stop Loss: 112.372

Reason for Stop Loss:

127.2% Fibonacci retracement and 127.2% Fibonacci projection

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Dean Leo,
Chuyên gia phân tích của InstaForex
© 2007-2022

Thêm các bài viết của tác giả này

Về phần danh sách

Hỏi tác giả

E-mail subscription

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Daily Video Analysis: CHFJPY, H4 Bullish Breakout Opportunity

Today we take a look at CHFJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.

USDJPY Potential For Bearish Continuation | 19th May 2022

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..

GBPUSD Potential For Bearish Continuation | 19th May 2022

On the H4, with price reversing off the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 1.23923 where the horizontal overlap support is to our 1st support at 1.22667 in line with the horizontal pullback support, 100% Fibonacci projection and 61.8%.