USD/JPY: technical analysis
24 January 2019, 11:09
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 110.05 |
| Take Profit | 110.70 |
| Stop Loss | 109.75 |
| Key Levels | 106.71, 107.51, 108.33, 109.13, 110.02, 110.77, 111.46, 112.18 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 109.10 |
| Take Profit | 108.35 |
| Stop Loss | 109.45 |
| Key Levels | 106.71, 107.51, 108.33, 109.13, 110.02, 110.77, 111.46, 112.18 |
USD/JPY, D1
On the D1 chart, the pair shows lateral movement at the center line of Bollinger Bands; the price range is narrowed. MACD histogram is in the negative zone keeping a signal for the opening of short positions; the signal line is reversing upwards. Stochastic crosses the overbought zone from above, forming a signal to open short positions.
USD/JPY, H4
On H4 chart, the instrument is moving in the narrow lateral channel formed by the boundaries of Bollinger Bands. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic is in the neutral zone, and the signal line of the oscillator is directed downwards.
Key levels
Resistance levels: 110.02, 110.77, 111.46, 112.18.
Support levels: 109.13, 108.33, 107.51, 106.71.
Trading tips
Long positions may be opened from the level of 110.05 with target at 110.70 and stop loss at 109.75.
Short positions may be opened from the level of 109.10 with target at 108.35. Stop loss — 109.45.
Implementation time: 1-3 days.
On the D1 chart, the pair shows lateral movement at the center line of Bollinger Bands; the price range is narrowed. MACD histogram is in the negative zone keeping a signal for the opening of short positions; the signal line is reversing upwards. Stochastic crosses the overbought zone from above, forming a signal to open short positions.
USD/JPY, H4
On H4 chart, the instrument is moving in the narrow lateral channel formed by the boundaries of Bollinger Bands. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic is in the neutral zone, and the signal line of the oscillator is directed downwards.
Key levels
Resistance levels: 110.02, 110.77, 111.46, 112.18.
Support levels: 109.13, 108.33, 107.51, 106.71.
Trading tips
Long positions may be opened from the level of 110.05 with target at 110.70 and stop loss at 109.75.
Short positions may be opened from the level of 109.10 with target at 108.35. Stop loss — 109.45.
Implementation time: 1-3 days.
No comments:
Write comments