Market Analysis provided by A Teen Trader should be used for a education purposed only, trade what you are willing to lose
4h Time Frame
USD/JPY so far has played out perfectly, Like i said if it opens this week under the resistance zone it will most likely push up and retest that zone before continuing down. It did, we opened below the zone, pushed up to the zone and created a bearish rejection candle, and as a result we are now in a current small downtrend.
As of currently, the USD still seems to be bearish and until we break the resistance zone i have drawn i will not think other wise. If that zone holds, a move to the daily support and lower looks to be in our future, this week or next. I did notice that the markets are already beginning to slow down, so be careful and trade accordingly. What to keep in mind is, that when the markets are moving slowly, major zones will never break, why? because there are no orders to push price through those zones.
This is a trade i posted today on Instagram, I did not take i just gave the idea, We were at about 112.50 when i posted this. What was said was that a zone fill is more than likely to happen, why? We had a lot of free space to the left and on my broker there was a wick that we needed to fill. Remember when price is in momentum, the wicks will get filled. We also had an ema cross to fuel the downward momentum (circled in green). The take profit zone was drawn and hit perfectly (green circle), i drew this zone here because on my mt4 i had a wick that just tapped into that zone. (I will do a post about how to draw zones within a week) Again, many people capitalized, very good job to you all. Happy Trading!