about USDJPY H1 Forecast & Analysis

Sergey Golubev 2016.06.17 17:14 #11

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Chang Suk Chung 2016.06.20 14:37 #12

Sergey Golubev:

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Trend reversal is confirmed by Tenkan-sen crossing over Kijun-sen.

Below is evidence.

Sergey Golubev 2016.06.20 15:19 #13

You mean: reversal to uptrend?

Not yet ... because of the following:

cloud reversal = possible reversal only (such as 'reversal possibility');
Tenkan-sen crossed Kijun-sen for uptrend but Tenkan/Kijun crossing signal is 'early but weak signal';
the price is located inside Ichimoku cloud, means - for ranging market condition waiting for direction for buy/bullish or for sell/bearish;
symmetric triangle pattern was formed by the price (by two trend lines) - we can see it from the chart above, it means that if the price breaks the trend lines/pattern to above = uptrend, to below = downtrend.

The bearish trend will be resumed when the price breaks 104.36 support to below on open H1 bar.
The bullish reversal will be started if the price breaks 104.73 resistance to above on close H1 bar.

I think - most likely scenarios are the following:

the bearish trend will be resumed (104.36 will be broken to below), or
the price will be on ranging inside Ichimoku cloud for the waiting for direction for example.

EURUSD Technical Analysis 2016, Forecast for Q4'16 - Forecast for Q1'17 -