Here the analysis on Yen, shorting of Euro i will come out with on the 1st week of May as "The Godfather" say he is going to cut interest rate for the Euro in May...and everybody believe he will....
Long USD/JPY
H1 Chart
H4 Chart
Yellow = Support Level
Green = Fibo level
Dotted blue line = Pivot level
It seem that Yen manage to test Week pivot S2 but if u can see as soon as it close below
S2 the next candlebar close higher showing that this pivot is a good support
There also some good support seen like the yellow support line i draw and the fibo level
This show a strong confluence level.
But i will see how the market fair on monday, a good entry point will be below 97 stop around 30pips and limit around 98
Here also some analysis on Yen from FX360
"USD/JPY: Strong Buy on Dip to 97.25"
Our intraday technical reports have been tracking this bullish setup all week long as each day has essentially brought more and more confirmation on a potential buy at..... more
SOURCE: FX360
If i have a chance i will share more on how fibo level works and some trading styles.
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