Daily analytical report (24/05/18)

2018-05-24T12:49:30
  • The first one is GBPJPY, which is giving us a super strong long-term sell signal. The pair has already broken all major supports and now is testing the closest one as a resistance. First contact was bearish, but it seems that we will have another test soon. A double top at such an important level could provide a marvellous trading opportunity.
  • Next up is the NZDJPY pair, which is very close to denying the strong buy signal created by the piercing pattern on the weekly candlesticks. We are currently at a crucial long-term support and a bearish breakout could cause a real waterfall here with a bearish opportunity for hundreds of pips.
  • The last one is the USDJPY pair, which has already broken the trend line and the horizontal support at 110. The first one has already been successfully tested as a resistance and the second one should be tested soon. A bearish bounce from 110 will be a legitimate sell signal.

 

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