The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
Stop loss at Take profit at Reason for the trading strategy technically: Price has dropped nicely from our selling area. We adjust our selling area to be at major resistance Hello all, According to us this pair is heading to the channel resistance and the price is forming a double top after breaking down the steep wedge.
I am going to double my account with just this one trade itself. I see it dropping to the area. Price has retraced back up into a decent structure zone around ish which also has some fibonacci and trendline confluence.
Yesterday's daily candle closed fairly bearish off the initial test of these levels. See related ideas for more details. The buyers showing fatigue, opening room to possible range.
NFP is this friday! The right shoulder has been measured, so if it does not break before the period of time the right triangle covers, momentum is being lost and the probability for the pattern to be valid will drop. As expected we came down a bit an are meeting a support now that appeared the past few hours.
I expect that it will hold for a while. Wait until it reach the support line to take long. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...