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  • USDJPY dips after failing to jump above Ichimoku cloud

    From xm.com

    video USDJPY had been trending lower since its upward sloping channel broke to the downside in early March. Although the pair attempted a rebound, it is now on the retreat again after the congested region that includes the 50-day simple moving average (SMA) and the upper Boundary of the Ichimoku cloud rejected further advances. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI has flatlined below its 50-neutral mark, while the stochastic oscillator is falling after posting a bearish cross. If negative tendencies persist, the price could initially ... (full story)

"USDJPY dips after failing......" But, maybe not so bearish as xm.com would invite you to believe.

A good look at an M15 chart could suggest SM took advantage yesterday above the 132.50 half level to get sell orders in for a quick drop to below the lower 131.50 half level (a nice 100 pips profit move!).......all in time to close and switch back to getting buy orders filled down there......in plenty of time before plenty of HIGH IMPACT USD releases occur.....HTMRW.
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  • Posted: Apr 5, 2023 6:55am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 1  /  Views: 1,555