Usd Jpy forecast Dollaro Yen technical analysis up to august 2019

forexgann

Usd Jpy forecast Dollar Yen technical analysis

Dollar Yen forecast Usd Jpy technical analysis using W.D.Gann’s temporal cycles

usd jpy forecast
Dollaro Yen may 2019

Usd Jpy forecast Dollar Yen medium term technical analysis

Dollar Yen market price dynamics is lateral from January 2017.

The trend after a strong positive reaction in November 2016 which brought prices from 99 area up to 118.66 level, it began a new phase of persistent laterality which generated two other important tops in addition to that of December 2016, namely November 2017 and October 2018.

The angular resistance started from the top of December 2016 (purple colored in the slide) has blocked the rising phase of Dollar in October 2018 (third top) and at the subsequent rally February-April 2019.

From the third maximum of October 2018, the market, after a brief distributive phase, began to dramatically correct, reaching in January 2019 the minimum levels of March 2018 at 111.36.

The positive pull-back started in February 2019 pushed trades for the second time on the angular resistance, which blocked again any upward acceleration attempt.

Monthly Set-ups of March-April 2019 were broken downwards in May, with the achievement of area 109.

June 2019 coincides with a double time cycle expiration, so it will be crucial to understand if Yen Dollar market will end this long lateral phase started in December 2016.

Dollar Yen forecasts technical analysis: the continuation of prices below the low of May will confirm the negative trend in the medium term. First supports at 108.40; 107; 104.30.

Conversely, the return above 112 level will indicate a new recovery of Dollar. First resistances at 111.60; 114.20.

Dollar Yen quarterly forecast

usd yen price forecast
Dollar yen may 2019

The 1 X 2 downward resistance corner still blocked all attempts to recover of the American currency, precisely in the first quarter of 2017, in the last quarter of 2018 and in the first quarter of 2019.

The trend is still negative, until the US currency will reach 112.65.

First resistances are at 114.80, while supports stand at 106.50; 104.80.

Dollar Yen time cycles were analyzed using Top Trader© free software.

Load More Related Articles
Comments are closed

Check Also

Books on online trading and Forex how to do trading using Gann’s technique

Books on online trading and Forex how to do trading using Gann’s technique Books on online…