I wrote about the USDJPY last week on 07.04 in the article: “Will there be H&S ?” Today’s day answered this title question, because it was on Easter Monday that the price of this pair reached the neck-line finishing drawing the H&S formation. The London session began with a fairly smooth crossing of the said line and the quotations reached 107.50. We are currently observing a correction of today’s drops, the price goes towards the neck line from the bottom, we can expect a re-test.

You can see me trading live every day from Monday to Friday between 1 p.m. and 2 p.m. (London time). During the live sessions I make analysis and show how I trade according to my strategies, I will also answer to your questions in the chat room. All you need to watch my live sesions is enter here: https://www.xm.com/live-player/intermediate

USDJPY H4 13.04.2020 – price made the expected move and completed the H&S formation, neck line was broken during the London session

USDJPY has traditionally been one of the safe haven instruments, as of tomorrow US listed companies will begin to publish quarterly results, which may lead to another wave of stock sell-off on the NYSE, which may strengthen the Japanese yen and lead to falls on the USDJPY pair. It is worth looking at the quotations of this pair, and if there is a downward signal in the form of a pinbar or a bearish engulfing pattern, you can open a sell order with the first target of 107.13, where the nearest demand zone is located.

In our Facebook group, which you can join anytime: https://www.facebook.com/groups/328412937935363/ you will find 5 simple strategies on which my trading is based. There, every day  we post fresh analyses of currency pairs and commodities

Error, group does not exist! Check your syntax! (ID: 3)