USDJPY reached the 38.2 fibo retracement of the last downswing (105.6-100.6). Here the rebound stopped. The ultrashorttermtrend turned bearish again. At the moment, we are trading near a possible action point (blue). this level @ 100.6-100.8 is the level to watch! Here a desicion has to be made imo.
Trading below that level should initiate a further downwave down to the longtermsupport 100 - Here i exspect a temporarily rebound. The RSI signs a weak bullish signal, so that we can exspect, that a right shoulder can be formed before the "real" dip will come. Trading above the "shoulder"-level is bullish. The market could decide to aim the maximal correction level fibo 61,8 @ 103.71. The neckline @ 100.85 is also a part of the "action point".
Other ideas or comments are welcome - Agree or disagree
Former View: Longterm: SHORTCHANCE BELOW 105? If the pair would trade below 105, i see the possibility for a further downwave. First TP of the short is the former low @ 100
Shortterm: ADJUSTED VIEW: NEXT SHORTTERM DOWNWAVE AHEAD?
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again tested the action point -the bought it again!!! So if we will brak through that level at 100.7-100.9, i exspect a very fast and strong downmove
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reached tp1
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We are trading near the action point at 100.8 - the neckline and bo-level. Here a desicion has to be made. From a cyclical view, i would exspect a further downwave as long as we trade below 100.8. TP 2 is still 99, than 96. Trading above 100.8 could reach till 102.5
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EASYCHUA99
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LOOK Lke over sell
EASYCHUA99
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from the History the AUg and sep month the market correction , how come Dax still can went will so high ?
Thanks you