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EUR/USD: general review 14 June 2019, 11:05

EUR/USD: general review 14 June 2019, 11:05 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.1265 ...

Jan 11, 2019

USD/JPY: Murrey analysis 11 January 2019, 13:24


Scenario
Timeframe Weekly
Recommendation SELL STOP
Entry Point 107.75
Take Profit 107.03, 106.25
Stop Loss 108.30
Key Levels 106.25, 107.03, 107.81, 109.37, 110.15, 110.93
Alternative scenario
Recommendation BUY STOP
Entry Point 109.40
Take Profit 110.15, 110.93
Stop Loss 108.90
Key Levels 106.25, 107.03, 107.81, 109.37, 110.15, 110.93
On the daily chart, the pair continues to trade within the downward trend, although the decline slowed down around ​​107.81 ([5/8]). The breakdown of this level will let the price fall to the level of 107.03 ([1/8], H4) and 106.25 ([4/8]). The likelihood of continued decline is confirmed by technical indicators. Bollinger bands reversed downwards, Stochastic is reversing downwards near the overbought zone, MACD histogram increases in the negative zone.
The resumption of growth to the levels of 110.15 (the middle line of Bollinger bands, [5/8] H4) and 110.93 ([5/8]) will be possible if the price is fixed above the level of 109.37 ([6/8]).
Support and resistance
Resistance levels: 109.37, 110.15, 110.93.
Support levels: 107.81, 107.03, 106.25.

Trading tips
Short positions can be opened after the price fixes below the level of 107.81 with the targets at 107.03 and 106.25 and stop loss around ​​108.30.
Long positions can be opened above the level of 109.37 with the targets at 110.15, 110.93 and stop loss 108.90.
Implementation period: 4–5 days.

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