Forex

USD/JPY Might Start a Move To The Upside

October 25, 2018

2 min read

tarantula fx

Head of Trading

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USD/JPY Might Start a Move To The Upside

Hi traders,

The USD/JPY has formed a pinbar at the W L4/D L4 and could start a new upmove correction towards D H4 and eventually D H5.

111.85-95 is the POC. However, as long as the price doesn’t break D H1 it won’t be clear if the correction will continue. Camarilla L1 and H1 levels are the best indicators for a ranging markets. As long as the price is trapped inside we have a range. A clear breakout above and above the D H3 will lead to 112.60 and eventually 112.90. A break below 111.80 and the price will retest 111.66-50 zone.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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