I have placed a buy position on the USDJPY as price is currently in the support zone which is also a role reversal zone. Even though North Korea has continued with its missile testing markets have not really found this as a concern. As yen was trading lower today than the past two weeks and US ten year T-Note was also lower after being flat the past few days. Therefore investor are still keen for more risk appetite, risk caused by North Korea must have already been priced in. I believe safe haven will only rise if there is some kind of military response verbally or literally. Yen Price is also low buy at 111.691


Even though price is at the middle of a long term range price is at the monthly profit taking zone and because of this 21 and 55 are becoming flat. Expect to buy at role reversal zone.


On the H4 chart we anticipate price bouncing off the role reversal price continue going up as price did bounce off WS1 and should target WR1


Market is currently trending on the hour chart as higher highs and lower lows are being formed place pending order at the role reversal price which is now support.


M15 is same as the H1.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.