Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

USDJPY Analysis & Trading Plan- 23 October 2024 #forex #trading #forexsignals #vladimirribakov #fyp

23 Oct 2024 · 1 min

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Vladimir Ribakov sees USD/JPY heading lower. The daily chart sits on heavy resistance, the 4-hour RSI is overbought, and MACD shows bearish divergence with price making higher highs while momentum weakens. He expects a pullback and favors short positions.

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Here is why dollar yen could be a very interesting short-term sell opportunities very soon. Daily chart is right on a huge supply zone. The 4-hour chart RSI is clearly overbought. This overbought condition could be found also on the 1-hour chart, and the 4-hour chart also has a clean bearish divergence on the moving average of the MACD— higher highs on the chart versus lower highs. on the moving average of the MACD. I would not be surprised if the market will start to create reversal signs and eventually will make this pair push to the downside.