USD/JPY Two Confluence Zones Hovering Above The Price
The USD/JPY is showing a confluence zone above the price and it could reject soon. H1 chart shows a downtrend and 109.50-70 (EMA89, 61.8, order block, ATR pivot, D H5) should reject the price possibly towards D H3 109.14 and 108.71 D L3. A spike above weekly H3 109.84 could reverse the trend to the upside possibly targeting 110.16 a confluence of 88.6 and previous order block.
Follow @TarantulaFX on twitter for latest market updates
Connect with Nenad Kerkez T on Facebook for latest market updates.
W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
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)