USD/JPY: I can see on the Monthly Time Frame that the market is

Tian Kriek

Analyst


July 16, 2019 07:32 AM

BEARISH

Daily Trading Range:
USD/JPY: I can see on the Monthly Time Frame that the market is consolidating within a triangle. In the event that the Triangle support is broken then I expect the market move substantially lower to roundabout 92.00 which is the Monthly Down Fib D. With regards to the Daily time frame there is a bullish crown suggesting that price will move bullish to 110.40. If price remains above 108.00 pivotal support then I shall consider a buy permitting that the Daily StochasticRSI is in the Buy Zone.

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 108.1300
Resistance 2: 110.7000
Resistance 1: 113.5000
Current Price 107.9400
Support 1: 111.0000
Support 2: 99.8600
Support 3: 93.0000

Two Hour Chart

Two Hour Chart
The market is moving can you keep up?