dlbsanborn

dlbsanborn

USDJPY has a significant decision to make. It is currently testing various trendlines as well as fib and profit target completions for various Fibonacci sequences.

dlbsanborn Updated 

GBPJPY broke and closed below 147 and a trendline yesterday on the daily chart. However, I would have preferred if it had been more impulsive in nature. It left nearly a 100 pip wick below the close. With that said, I will be looking for short opportunities on lower timeframes and if sellers seem to be retaining their presence.

dlbsanborn Updated 

If 147 continues to hold It wouldn't surprise me to see the bulls make a run at some higher levels. If they're really serious I could see 160 being hit over the next months/year or so.

dlbsanborn Updated 

There's a potential head and shoulders pattern on the daily chart with the 147 level and a trendline essentially being the levels to break. If there's an impulsive bearish move breaking 147 to the downside I'll be looking to short to potentially the 140 area. There's some confluence around that area that may be a magnet for bears to drive price to.

dlbsanborn

You can see that GJ has completed a large bat pattern in yellow at 148.07. Additionally, price has recently put in a smaller cypher pattern in green which completed at 148.60. GJ is still technically in an uptrend and these patterns are completing at previous daily resistance that has acted as support in the past.

dlbsanborn

EURUSD has broken out of a consolidation period it has recently retested before finding further bullish momentum. There's nice confluence for a potential shorting opportunity. This confluence consists of a zone that has more or less acted as support and resistance many times over the past 10+ years. Additionally, there is a main downtrend line that would give a...

dlbsanborn

If bullish momentum continues I expect some bearish presence to emerge around a nice confluence zone. There's a 61.8 fib retracement of the larger high-to-low move as well as a 78.6 fib retracement of the smaller high-to-low move. Additionally around this zone, there's a previous resistance zone and downtrend line that would be the 3rd touch after it's...

dlbsanborn Updated 

CADJPY has seemed to put in a large inverse head and shoulders pattern and has broken the neckline. If this plays out, a measured move would place the "completion" of this pattern around 100-101 price area which is around 1000 pips from where price is currently trading. Something to keep in mind for the 2018 year.

dlbsanborn Updated 

EURJPY has been in major consolidation for the past few months stalling at the weekly chart swing high to low 61.8 fib retracement. If price can pull up to around 113.10-113.30ish I'll be looking for short opportunities.

dlbsanborn

AJ is slowly working up to a first area of confluence composed of a downtrend line, a wedge trendline top, the -23.6 extension target as well as the 61.8 fib retracement of the last impulsive move. I'll be looking for weakness if price can test these levels.

dlbsanborn

After a couple failed attempts at maintaining new highs, GBPJPY had a sluggish move lower last week. It's currently retesting a minor mid-level resistance zone around 151ish. IF bearish momentum can resume I wouldn't be surprised to see a move towards the 148-149 zone which is where the bottom of this potential range has been established.

dlbsanborn

I'll be watching price action closely for potential shorting opportunities as price is currently retesting some trendline confluence. The weekly candle close quite bullish, however, so patience will be key to see what price wants to do around these levels.

dlbsanborn Updated 

Price has put in a corrective wedge pattern that has seemed to recently broken out of and is currently retesting. IF bullish momentum can carry through I wouldn't be surprised to see bulls try and retest the recent highs. This would be an area where a potential head & shoulders pattern sets up. If buyers push through then I would expect to see price continue up to...

dlbsanborn Updated 

Price has retested some trendlines, fib, and structure. I'll be looking for price to head back towards the consolidation it recently broke out of. I wouldn't be surprised to see 149 again and potentially further downside movement after clear rejection from higher timeframe levels around 153.

dlbsanborn

After double bottoming around 147, GJ had an explosive move up. Currently there seems to be some exhaustion after price probed higher price but was rejected from closing at the new highs it printed. This is also an area of weekly support that seems to be acting as resistance. The daily candle closed bearish yesterday and momentum carried price lower today before...

dlbsanborn

As a continuation of my initial USDJPY post at the beginning of November, there's a potential Head and Shoulders pattern forming on the USDJPY daily chart. Price has retraced back up into a decent structure zone around 113ish which also has some fibonacci and trendline confluence. Yesterday's daily candle closed fairly bearish off the initial test of these levels....

dlbsanborn Updated 

Here's what I see on GJ. Price has been consolidating down in a channel making lower-lows and lower-highs. Price has also seemed to be decelerating with a slight curve to the price action. Price tested a confluent level of fibs, structure, and trend lines recently. The retrace back down made a potential higher low that also lines up with previous fib, structure....

dlbsanborn Updated 

Price found a bottom shy of testing some major levels around 7500ish. It has since retraced back up to the downtrend line and some minor intersecting lines. Also around this area is a nice zone of previous support that may act as resistance. Additionally, the 61.8 fib for an impulse move was tested. This is enough confluence for me to short.