"Thanks for your response aitham. Looks like 1.3064 is proving a tough nut to crack. On daily, it looks like we have a H&S with neckline @ 1.3064...
I suspect momentum is gone for now, we'll need a rinse and repeat to break that level.
Always very insightful to be reading your posts. Pity you don't have more, especially on EUR/USD.
Could you let me know, out of technical analysis, what would fundamentally trigger JPY weakness? Thanks in advance"
"decision time... we can expect a bounce here but if we break the LTL of the bull flag, more downside on our way.
US equities have fallen as well, this could help, along with the time of the day (profit taking...)
"Still looks bearsih on Higher Tf (H4, H1) but bullish on lower TF (except possible DT on M5)... Obama is due to speak now - hope he says something good for USD...
In terms of PA, if 1.4231 breaks, you're looking at 1.4284 as next biggy. You can…"
"It still looks vearish on H1.
I'm looking at 4H close now, will check the pattern in an hour time and decide then (a close below 1.4134 would be nice but we need a clear break of teh DP for this first
As I said I sold the rally on…"