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USD/JPY Speaking a Few Bearish Words in H1 TF

USD/JPY Hourly Time Frame Technical Data Validating Reversal:1. Convergence of 127 XA, D point & 141 AB=CD at extreme price level in the Price Reversal Zone (PRZ)2. The 224 BC, D point projection acting as major resistance price level.3. Divergence of price and RSI.4. 5, 13, & 62 crossover with the session closing below 62 EMA as entry point.Price Targets - Price Targets - S!, S2 & S3.
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Dmtrv avatar
Dmtrv 26 Apr.

ERRATUM: The D point XA retracement should be 88.6 instead of 127.projection.

geula4x avatar
geula4x 28 Apr.

+1 Liked: Very nice technical analysis and use of confluence idea to find a key resistance area. Happy trading :-)

Dmtrv avatar
Dmtrv 29 Apr.

Price target/objective at Support level 1 accomplished. Next price target/objective will just be a couple candle sessions more to go......... Thanks for all your appreciations, guys. Have a pleasant trading days ahead...................

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Dmtrv 30 Apr.

Second price objective @ 97.25, C point or support level 2 has just been hit in swift downside move breaching momentarily a key support level at 97.00 then back-pedaled for a breather in a corrective move in preparation perhaps of a substantial downside trend continuation.

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