USDJPY - Plan 10/8
Time Frame D
usdjpy main trend is downward trend for nearly 2 consecutive months from the price area 110 to 104.1, and increased again. The price is currently sideways in the 105.3 to 106.4 range (Price is below the fast line, the fast one is below the slow MA).
There is a possibility of a rebound before resuming bearish momentum in frame D.
Time Frame H4
The price is up around 60 pips from the lower resistance, with the slow EMA above the fast MA. Besides, after the uptrend, a red candle appeared with RSI going down might happen a correction phase.
time frame H1
The price hit the edge of the decreasing channel, with the RSI in the overbought zone. Price will be adjusted.
Strategic Plan:
1. In case the price falls: Wait for the price to break through the 105.3 zone and trigger the Sell order setup. Stoploss at area 105.5
The target for this plan will decrease the price by the height of the previous bull run by about 120pip. The price will return to the lower channel area (observing the signal in this area => can calculate the Setup buy order when the price has good response and buying power in the lower channel area and the sign of a reversal. .
2. In case of price increase: Should wait for an adjustment for RSI H4 to have a data correction before it can continue the next uptrend. After the price crosses the down channel at 105.9, you can set up a Buy order with a stop loss of about 20 pips at 1/2 previous green candle. (Do not prioritize this command, can be ignored)
3. If the price is likely to move sideways in the range 105.3 to 106.5, wait for price action when it breaks the resistance zone or supports a sell or buy order.
usdjpy main trend is downward trend for nearly 2 consecutive months from the price area 110 to 104.1, and increased again. The price is currently sideways in the 105.3 to 106.4 range (Price is below the fast line, the fast one is below the slow MA).
There is a possibility of a rebound before resuming bearish momentum in frame D.
Time Frame H4
The price is up around 60 pips from the lower resistance, with the slow EMA above the fast MA. Besides, after the uptrend, a red candle appeared with RSI going down might happen a correction phase.
time frame H1
The price hit the edge of the decreasing channel, with the RSI in the overbought zone. Price will be adjusted.
Strategic Plan:
1. In case the price falls: Wait for the price to break through the 105.3 zone and trigger the Sell order setup. Stoploss at area 105.5
The target for this plan will decrease the price by the height of the previous bull run by about 120pip. The price will return to the lower channel area (observing the signal in this area => can calculate the Setup buy order when the price has good response and buying power in the lower channel area and the sign of a reversal. .
2. In case of price increase: Should wait for an adjustment for RSI H4 to have a data correction before it can continue the next uptrend. After the price crosses the down channel at 105.9, you can set up a Buy order with a stop loss of about 20 pips at 1/2 previous green candle. (Do not prioritize this command, can be ignored)
3. If the price is likely to move sideways in the range 105.3 to 106.5, wait for price action when it breaks the resistance zone or supports a sell or buy order.
כתב ויתור
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