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Usdjpysignal

USDJPY 240 Pips drop expected will it reach 103.00 level ?USDPY ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣Clear Downtrend since July-2020 2️⃣ 104.00 Acted as dynamic support and resistance 3️⃣ Risk off mode and Rising of virus infections, US 2020 election 4️⃣ 105.00 Key psychological resistance 5️⃣ Price Movement within the broader Downtrend channel 6️⃣Counter trend line will act as resistance 7️⃣ Technical support - Bear 8️⃣ Short term bullish movement towards 105.500 9️⃣ October high Immediate resistance 🔟 DXY-awaiting US election results - Currently neutral for USDPY #️⃣ Overall bearish trend —————-❇️——————- 📉 Technical bias-H4-Bearish Below 200 Exponential moving average 200EMA acting as immediate support - Bearish trend Possible entry point-105.500 Relative strength index - Around 60 well above the neutral area MACD- Is still above the line and about to cross the line and the histogram is fading ,Oscillators are still upward Stochastic -at 75 Which is over bought territory and bearish divergence has formed in H4 Ichimoku cloud -cloud is red-Cloud Support-Bear Bollinger band- Price is around higher band-Middle band will acting as dynamic support/resistance —————-✳️——————- Key reversal area's 104.00 Key psychological level 106.150 October month high 105.500 Dynamic support and resistance 105 Key psychological level-Major key reversal area 103.00 Lower trend line reversal area 105.500 Possible entry- Bearish 105.500 Break and retest around this area-Alternative entry-Bullish —————-✳️——————- Bearish entry #USDJPY Entry price - 105.500 Take profit 01 - 104.800 (70 pips) Take profit 02 - 104.100 (140 pips) Take profit 03 - 103.100 (240 pips) 🚫 Stop lose 105.940 (45 pips) Alternative bearish entry-105.700 ( Break and retest ) ⬇️ 2.14% Growth expected ⤴️ Account growth 0.56 : 2.14 ✅ Risk reward ratio 1 : 3.8 —————-⚜️——————- Push the like button , And cheer up if you found useful
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by forexorbit