STRONG confluence seen around H4 supply at 114.93-114.57!

FX:USDJPY   US-Dollar / Japanischer Yen
283 4
The impact of Yellen’s testimony drove the USD/JPY skywards yesterday, reaching a high of 114.49 on the day. To make a long story short, this has brought H4 price up to a nearby area of H4 supply at 114.93-114.57, which we feel will likely hold price lower today. There are a number of technical aspects that support this view:

• A H4 trendline resistance etched from the high 115.62.
• December’s opening level at 114.68.
• A H4 AB=CD approach which (symmetrically) concludes just ahead of the H4 supply mentioned above.
• Bolstered by a daily resistance area at 115.62-114.60.

Our suggestions: In light of the above confluence, our team is looking to short at 114.71, with the stop set a few pips above the H4 AB=CD 161.8% ext. (114.96) and round number (115) at 115.03. Please ignore the bold red line as this our alert, nothing more.

Data points to consider: US CPI and US retail sales scheduled for release at 1.30pm, with another day of testimony from Fed Chair Janet Yellen at 3pm. FOMC member Harker speaks at 5.45pm GMT .
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
What is the tgt from here?
ICmarkets Cryptoelite
@Cryptoelite, Looking at the nearby H4 demand at 113.50 ish
@ICmarkets It was meant to close the Gap at 115.047 ... but never made it that high ;o( What are you thought now??? Cheers Matty
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden