By Admiral Markets
<p><a href=”https://admiralmarkets.com/analytics/technical-analysis/feed.xml/usd-jpy-two-confluence-zones-hovering-above-the-price”><img class=”img-responsive” src=”https://fxmedia.s3.amazonaws.com/articles/2017-08-22_14-31-42.jpg”></a></p><p>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.</p><p>Follow <a rel=”nofollow” href=”https://twitter.com/TarantulaFX” target=”_blank”>@TarantulaFX</a> on twitter for latest market updates</p><p>Connect with <a rel=”nofollow” href=”http://www.facebook.com/tarantulafx”>Nenad Kerkez T</a> on Facebook for latest market updates.</p><p>W L3 – Weekly Camarilla Pivot (Weekly Interim Support)</p><p>W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)</p><p>W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)</p><p>D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)</p><p>D L3 – Daily Camarilla Pivot (Daily Support)</p><p>D L4 – Daily H4 Camarilla (Very Strong Daily Support)</p><p>POC – Point Of Confluence (The zone where we expect price to react aka entry zone)</p>
Article by Admiral Markets

Source: USD/JPY Two Confluence Zones Hovering Above The Price

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