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USD/JPY
Higher Time Frames
October has gone down in history as confirmation of the bullish intention to break out of the monthly bearish correction, during which the market reached and tested the final levels of the monthly Ichimoku cross (144.60 – 140.50). The advancement of the bulls on this section of the chart and the restoration of the uptrend (161.96) will be possible only if the pair can overcome the weekly Ichimoku dead cross. From there, the bulls may also complete and surpass the daily uptrend goal for breaking through the cloud (159.52 – 161.73). The last week of October was marked by testing the final level of the weekly cross (153.43).
The bears' activity could interfere with the realization of these bullish plans. However, the bears will need to show results. To negate the October outcome, they must overcome a series of supports across different timeframes, including daily (152.20 – 149.22 – 147.78 – 146.33), weekly (151.80 – 150.80 – 148.13 – 146.97 – 146.74), and monthly (150.78 – 148.69).
H4 – H1
The week ended on the lower time frames, with the pair testing the weekly long-term trend (152.99). This trend provides the main advantage to its holder. The advantage is with the bears as long as the pair remains below this trend. The current targets for the bears are the H4 cloud (152.47 – 151.50) and the supports of the classic Pivot levels. If the bulls manage to secure a stable position above the weekly trend (152.99), the main advantage will shift to their side, and their attention during the day will turn to the resistances of the classic Pivot levels.
Updated classic Pivot level values for reference will be available when trading opens at the start of the new workweek.
Technical Analysis Components:
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
