Daily Analysis | USD/JPY | 4 of December

Posted 04 December, 2017

Following the possibly most substantial US tax overhaul since the 1980s, the US Senate gave a significant boost to the USD last night. The corporate tax rate should be cut from 35 percent to 20 percent. The USD/JPY opened much higher than it closed on Friday, making a runaway gap that hasn't been closed as of yet. Previous analysis followed exactly as planned before the pair dropped due to out of the blue news that Flynn will testify against Trump.
At this point, the USD/JPY is barely retracing from the W H4/ ATR pivot confluence -113.05-20 zone. It could go for 112.65 retest, but the gap will be almost closed completely only if it gets to POC zone 112.20-45. There we could see a bounce towards the 113.60 zone. However, if we don't see a retracement, then pay attention to 113.20. The move above it might lead to 113.60.


W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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                                                                                                                 By Nenad Kerkez | Admiral Markets

 

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Previous forecast

05 December, 2017 09:45

← Daily Analysis | AUD/NZD | 5 of December

The AUD/NZD shows Double Bullish Confluence on intraday time frame. We can see the W pattern that pushed the price up while at the same time it has formed the bullish SHS pattern (inverted head and shoulders). If the price drops to the POC zone 1.1050-60 (78.6, EMA89, D L3, Soulder bottom) we could see a spike towards 1.1130 W H4 target. The ATR (14) has already been filled so we might see another spike up during late NY or Tokyo session.
 

Daily Analysis | AUD/NZD |   5 of December

Next forecast

29 November, 2017 13:10

Daily Analysis | GBP/JPY | 29 of November →

The GBP/JPY has formed a variation of a V-shaped pattern named "Diving Board". The diving board is a reversal pattern that forms after the price makes a flat base than drops down with a high momentum that is followed by a straight-line run-up. V-shaped reversal is created, and the price proceeds up. At this point, we can see two POC zones.

Daily Analysis | GBP/JPY |  29 of November
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