USD/JPY Technical Analysis – Hantec Markets 17/08/2020

by birtanpublished on August 23, 2020

Welcome back to my daily reports market analysis videos with me richard perry market analyst at hand tech on monday the 17th of august uh we're going to look at dollar yen now which has started to creep back lower again it had that fairly

Impressive recovery actually in the last week and a half um creating that high low at 105.30 broke up through 106.60 which was an old basis of a floor which

Could have been resistance um or should have been resistance of overhead supply it sort of petered out around 107 figure and has now started to form you could argue that um this three candlestick setup is not a million miles

Away from what would be an evening star um candlestick setup where you get the strong in candle a second sort of neutral candle and then a strong

Third candle to the downside that sort of indicates a reversal pattern and considering we're falling away again today confirming the trend breach and back below 106.60 it's it's a fairly sort of negative setup that we've now

Got developing through that um through that dollar yen chart and we could now start to see the market falling away now if it moves underneath 106 figure i think that would be a key moment

Because it was so such an important level of resistance to break out through the market had sort of thought about that and so um consistently a couple of weeks ago and then on the

Decisive breakout never looked back but subsequently having rolled over at 107 figure a move back underneath 106 figure would be a fairly uh negative development i think it

Obviously then would put pressure on the 105 um 30 level which is that reaction though that we saw a couple of weeks sort of week and a half ago but as you can see on the alley

Chart we're starting to form a more corrective configuration that rsi and the hourly failing at mid 40s falling back to 30 macd lines look at those crossing back lower seemingly crossing back lower underneath

The neutral line also stochastics sort of faltering at 60. so that you're starting to get corrective configurations and we could argue a top pattern over the past four or so sessions on a

Move below 106.45 which incidentally was a breakout point so that old support had become so that old resistance had become supportive but breaking down that today starts to again look a little bit

Corrective looking so we are starting to see this move developing into something a little bit more negative and starting to see intraday rallies sold into and putting pressure i think on that 106

Figure level and as i said a closing move below that would be a pretty significant shift in sentiment once more so with that in mind i wish you good luck in your trading today click here to subscribe to our analysis videos go to

Our website sign up for our webinars and also click to watch trader talks our videos that give you top trading ideas

Related Videos

from daily forex this is chris taking a look at the uh bitcoin market here you can see that we have uh found the market to be bullish we have broken above the ...
from daily forax this is chris taking a look at the um us stock indices this is the s p 500 and you can see that the s p 500 has uh rallied quite a bit did pul...
Hi this is vlad from effects empire euro dollar failed to settle above the resistance at 1.1870 and is trying to get below the support at 1.1830 if this attempt...
from daily forex this is chris taking a look at the uh crude oil marking cwti has gapped a little bit lower and then basically did nothing so uh at this point ...
from fx empire this is chris taking a look at the euro dollar and you can see that we are reaching above 118 as new york gets on board and perhaps trying to ma...
from daily forex this is chris taking a look at the euro and the pound you can see the euro has fallen a bit during the trading session here on friday as there...
Hi this is vlad from effects empire silver is currently trying to settle above the nearest resistance level at 23.30 if this attempt is successful silver will g...
from daily forex this is chris taking a look at the gold and silver markets you can see gold has smashed into this little short-term downtrend line that i have...
from fx empire this is chris taking a look at the british pound japanese gen pair you can see we shot straight up in the air and uh slammed into 136 but at thi...
from daily forex this is chris taking a look at the west texas intermediate crude oil market and as you can see we have a little bit of stability here it looks...
from daily 4x this is chris i'm taking a look at the indices and the e-mini contracts in america this is the s p 500 you can see that we have fallen a bit ...
from daily forex this is chris taking a look at the us dollar japanese yen and the aussie dollar the dollar yen as you can see continues to kind of chop around...
from fx empire this is chris taking a look at the dollar yen weekly chart you can see that we are dancing around 105 at this point if we rally 106 is an area i...
from daily forex this is chris taking a look at the wti crude oil market you can see that we have rallied a bit during the trading session here on wednesday yo...
from fx empire this is chris taking a look at the euro dollar weekly chart you can see that we have a slice through 117 on the weekly time frame now it looks l...
from daily forex this is chris taking a look at the um euro and the pound and you can see that the euro did rally a bit during the training session a lot of th...
good morning this is bob mason from fx empire and welcome to the daily crypto tech review we'll be looking at bitcoin ethereum litecoin and ripples xrp the ...
from daily forex this is chris taking a look at the s p 500 you can see we've rallied quite nicely during the trading session um but uh really at this poin...
from daily 4x this is chris taking a look at the dollar yen and the aussie dollar pairs you can see the dollar yen has broken down a bit during the uh trading ...
from fx empire this is chris taking a look at the s p 500 you can see that we are reaching towards 3200 an area that has previously been resistance and now is ...