Divergences Analysis USD / JPY at 22 November

Written by Tim T.

Yesterday's price growth has allowed the pair to gain a foothold on the Fibonacci correctional level of 23.6% - 82.25. Fastening under correctional 23.6% Fib level will count for a turn in favor of quotes yen and depreciation towards Fibo 38.2% level.

Daily

But now may continue to grow in the direction of the next level of correction - 0.0% - 84.16. Is brewing in the MACD divergence was not confirmed and did not form, other emerging divergence is observed. All indicators except Stochastic, can count on the continued growth of quotations, and Stochastic admits fixing prices below the 23.6% correction.

4h

 On the 4-hour chart quotes foothold on correctional level 261.8% Fib - 82.10. After the formation of a bullish divergence in the CCI and Stochastic couple met rebound quotes from 200.0% correction level. As a result, the growth rate may continue in the direction of the next level of correction 323.6% - 83.14. Fixing prices above 323.6% will rely on continued growth rate to the U.S. dollar towards the 423.6% Fibonacci level - 84.80. Retreat from the 323.6% Fib level will perform a turn in favor of the Japanese yen and are returned to the correctional level of 261.8%. Brewing divergence in MACD indicator was not confirmed. New emerging divergences not.

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