Type: Bearish MomentumKey Levels:Resistance: 0.007362Pivot: 0.007296Support: 0.007126Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trend channel and trendline, we have a bearish bias that price will continue to drop from the pivot at 0.007296 in line with the pullback resistance, 61.8% fibonacci projection and -27.2% fibonacci expansion to the 1st support at 0.007126 in line with the -61.8% fibonacci expansion and 100% fibonacci projection .Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 0.007362 at the overlap resistance in line with the 50% fibonacci retracement .Fundamentals:Japanese Finance Minister Suzuki said that the Japanese government is concerned about the Yen’s recent rapid weakening, giving us a bearish bias on the Japanese Yen.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/japanese-yen-futures-6j1-h4-potential-for-bearish-momentum14"
via IFTTT
Subscribe to:
Post Comments (Atom)
-
The new strain of covid found in South Africa could disrupt plans by governments and central banks to rebuild economies. Financial markets a...
-
Fidelity “FIS” is a global financial services technology company and a leader in providing technology solutions to merchants, banks and cap...
-
Asian Equities Sink on Covid FearsIt’s been a mixed start to the week for global equities benchmarks with US and European asset markets rema...
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.