USDJPY TECHS Jan 25th
USDJPY TECHS UPDATE Jan 25th
Current rate : 90.27
Trading biais : Bearish against 94 for 88.30 (fib ret 62%)
Trading strategy : wait further upside conso (due to oversold conditions in D1) before to sell
Today’s techs D1 http://screencast.com/t/NmU5OWFiMGU
techs Jan 19th D1 http://screencast.com/t/YzcxNGMyN
Oversold conditions in D1 could mention an intermediary bottom. On the upside, above 90.56 minor resistance will turn intraday bias neutral and bring recovery. But upside should be limited below 91.86 resistance and bring fall resumption.
With these oversold conditions met in daily intraday bias remains neutral.
As noted before, whole rise from 84.10 should have completed with three waves up to 93.74 already. Break of 87.36 will confirm this case and indicate that medium term down trend is indeed resuming for another low below 84.81.
Kind regards
Jerry