JPN225 Nikkei Forecast for the week 10th, March 2014

JPN225 Nikkei Forecast for the week 10th, March 2014

Daily Chart

Last week we saw price accelerate and stayed above the 15000, 

• if you put on the MA's, price is trading above, however all three have not crossed.
• Load the Ichimoku Clouds, and you will see price rejected the clouds which also is the 61.8. so this is a very big resistance

My thoughts I would be looking for opportunity to Short this more than long.

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Forecast and trade setup for the week 10th March, 2014

USDJPY Forecast and trade setup for the week 10th March, 2014

Bearish Cypher and Bat Overlapping at the same PRZ 

Weekly Chart

Daily Chart

• Stochastics is crossing at overbought area
• Lots of resistance - Trendline, Clouds
• On writing this blog, i could see a potential Bearish Cypher, however the PRZ is around 104. So if its gets there, i would most likely short it on PA confirmation

Hourly Chart

• You see i have a Bat pattern drawn, which actually will be the same PRZ zone on the Cypher I mentioned on the Daily summary
• The most recent Price action suggest we have topped , however support is also near

Outlook Trade opportunity

Hourly Chart and Daily Chart identified two Patterns (Cypher and Bat) at the same PRZ

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below