Weekly:
- Ichimoku picture turned to neutral, but bias is a bit bearish, given that Tenkan is still below Kijun and Tenkan points down. Future Senkou lines started to converge a bit more. Next bearish signal coulb be a weak bearish Chikou cross below past candles.
- After the big drop (long red candle) we had 6 weeks (!) of consolidation with decreasing volatility. Actually by last week this pair has become the most boring in FX space. Is it ready to continue lower finally??? Maybe yes, as haDelta/SMA3 seems to slowly turn down again from key zero level. This would be a confirming signal for bearish continuation.
- Most important supp/res zone is 116-117. If BoJ wants to protect JPY against further appreciation, they will have to do something ard 116, otherwise it makes a strategic bearish reversal.
Daily:
- Still a noise, with a neutral-like Ichimoku setup, but with bearish bias! Price has been swinging around Kijun Sen, but below Kumo.
- Heikin Ashi signals have been mixed, even today's candle and haDelta/SMA3 is a question. I am not sure if this will be reliable. For bearish confirmation we should see smoothed haDelta breaking its slightly positive trend. Price is also stuck in a tightenning triangle... maybe a bear flag (?).
Lower key level is 119,25!
Upper Kex level is 121!
Strategy is: Hold small short or maybe still stay away. Trade rather on a break!
- Ichimoku picture turned to neutral, but bias is a bit bearish, given that Tenkan is still below Kijun and Tenkan points down. Future Senkou lines started to converge a bit more. Next bearish signal coulb be a weak bearish Chikou cross below past candles.
- After the big drop (long red candle) we had 6 weeks (!) of consolidation with decreasing volatility. Actually by last week this pair has become the most boring in FX space. Is it ready to continue lower finally??? Maybe yes, as haDelta/SMA3 seems to slowly turn down again from key zero level. This would be a confirming signal for bearish continuation.
- Most important supp/res zone is 116-117. If BoJ wants to protect JPY against further appreciation, they will have to do something ard 116, otherwise it makes a strategic bearish reversal.
Daily:
- Still a noise, with a neutral-like Ichimoku setup, but with bearish bias! Price has been swinging around Kijun Sen, but below Kumo.
- Heikin Ashi signals have been mixed, even today's candle and haDelta/SMA3 is a question. I am not sure if this will be reliable. For bearish confirmation we should see smoothed haDelta breaking its slightly positive trend. Price is also stuck in a tightenning triangle... maybe a bear flag (?).
Lower key level is 119,25!
Upper Kex level is 121!
Strategy is: Hold small short or maybe still stay away. Trade rather on a break!
