Tag Archives: Nenad Kerkez

USDJPY Above 123.35 The Pair Is Bullish

Nenad Kerkez

USDJPY has been showing strength and resilience in last 4 days. Technical pattern which is currently shown on H4 chart is clearly V shaped reversal/ Diving Board and it marks strong bounce off important 120.00 zone. Currently the pair is struggling to break 123.35 and above the level pair is considered bullish. If 123.50 breaks the pair could head towards 124.45 , previous double top which shows a confluence with 124.35 resistance. If the pair breaks 122.90 it could gain additional momentum towards 122.00 and 121.50. Overall sentiment and technical picture is still bullish so we need to pay attention to the levels. Breakout/Continuation to the upside is favoured due to momentum and V shaped reversal. more…

USDJPY: Shorting Opportunity

Nenad Kerkez

Monday retail sales in Japan expanded by 1.7% vs forecast of 1% increase. Yen also strengthened due to Greece uncertainty and safe heaven flows.

Technically the pair reached weekly L5 which marks strong support and pullback towards POC could give us an opportunity to short it again. POC comes at 123.20-30 zone ( L3, 61.8, previous swing ) and it should provide shorting opportunities towards 121.50, next level if L5 breaks. For the pair to remain bearish 124.05 should hold as we have 2 trend line cross , and previous swing high as a resistance. more…