USDJPY Technical Analysis 26.05 - 02.06 : Correction within Bullish
Just some more about intraday (H4 timeframe) - this is bank holiday for USD and GBP, and only significant news event for USDJPY price movement may be CB CSPI at 23:30 GMT but this is low impacted news event sorry. So, I am expenting flat with sudden movement for short period of time:
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usdjpy h4 ready to go
But the price is located directly on Sin kou Span B line (this line is the border between bullish and bearish trend) so if the price will break this line and finally - 100.66 support line - we will see full revesal of USDJPY from bullish to bearish on H4 timeframe.
Just some more about intraday (H4 timeframe) - this is bank holiday for USD and GBP, and only significant news event for USDJPY price movement may be CB CSPI at 23:30 GMT but this is low impacted news event sorry. So, I am expenting flat with sudden movement for short period of time:
But the price is located directly on Sin kou Span B line (this line is the border between bullish and bearish trend) so if the price will break this line and finally - 100.66 support line - we will see full revesal of USDJPY from bullish to bearish on H4 timeframe.
The price is still following Sinkou Span B line with flat market condition and support line was not crossed yet on close bar (from above to below). Flat:
This is the explanation with image:
It was breakout for USDJPY at night and I think - it was related to Corporate Service Price Index (CSPI) for Japan which was at 23:50 yesterday. We can see this breakout for M30 timeframe for example:
As to D1 timeframe so nothing was changed really ... situation is still the same as I described during the weekend:
The price is still following Sinkou Span B line with flat market condition and support line was not crossed yet on close bar (from above to below). Flat:
This is the explanation with image:
The price is continuing to follow Sinkou Span B line after breakout :
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usdjpy sinkou spam b line following
but doing it on the other level :) so, everything is the same one except price value.
The price is continuing to follow Sinkou Span B line after breakout :
but doing it on the other level :) so, everything is the same one except price value.
The price was reversed completely by breaking Sinkou Span B line. So, we are having primary bearish for now for USDJPY on H4 timeframe:
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usdjpy h4 bearish
For D1 timeframe - the situation is still the same one as for few days ago with one exception: this is ranging market condition for now:
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usdjpy d1 ranging
Just some more about intraday (H4 timeframe) - this is bank holiday for USD and GBP, and only significant news event for USDJPY price movement may be CB CSPI at 23:30 GMT but this is low impacted news event sorry. So, I am expenting flat with sudden movement for short period of time:
But the price is located directly on Sin kou Span B line (this line is the border between bullish and bearish trend) so if the price will break this line and finally - 100.66 support line - we will see full revesal of USDJPY from bullish to bearish on H4 timeframe.
The price is trying to break 100.66 support line on open bar for D1 timeframe:
By the way - I am in profit for 35 pips for now with sell trade.
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The price is above Ichimoku cloud floating between 2 support/resistance lines (103.73 and 100.73) trying to go to correction during whole last week. The price came to be very near to 100.73 support line on D1 timeframe and if this support level will be broken so we may have good correctional movement. On the other side, if this support level will not be broken by price so the price may continue floating between support/resistance horizontal levels trying to break one of them.
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDJPY price movement for the next week)
2013-05-28 14:00 GMT | [USD - Conference Board Consumer Confidence]
2013-05-29 00:00 GMT | [JPY - Bank of Japan Governor Governor Kuroda Speech]
2013-05-30 12:30 GMT | [USD - Gross Domestic Product (GDP)]
2013-05-30 23:30 GMT | [JPY - Consumer Price Index (CPI)]
2013-05-31 12:30 GMT | [USD - PCE Price Index]
SUMMARY : Bullish
TREND : Correction
Intraday Chart