Δύσκολη η αναμονή
August 7, 2018
Ποτέ θα κα…ποτέ θα κάααανει….ξάστεριάααα
August 9, 2018

Greetings everyone. Has USDJPY made a major top at 113? I believe so. I expect over the coming weeks and months USDJPY to eventually move towards the lower triangle boundary between 103 and 105. I believe this rejection at 113 confirms that the USDJPY will continue trading inside the long-term triangle pattern. Next short-term support is at 110.50 and if broken I expect to see 109 fast.

In the weekly chart the Stochastic oscillator is turning lower from overbought levels. Such behavior in the past has been accompanied by a downward trend. I believe this will be the case again and we will see USDJPY below 105. Concluding I’m bearish as long as we trade below 113 with 105-103 as my target area.

 

Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.