The Singapore Dollar Japanese Yen.

Good evening Dynamic Traders,

Tonights chart is of the SGDJPY.

As can be seen price is in a consolidation after the bounce up from the large move down at the moment and so is not good to trade but we can get ready for a break.

All trends have just turned down, and price is currently testing the V.I. (which is flat), with a gravestone doji, at the time of writing, which is an indecision candle as you know.

Price is the most important part of any chart and has nearly tagged the Golden Mean today which is clustering with the V.I. thus possible causing the indecision .

Trading is best done with the trends but await your planned entry which could now be determined due to confluences building including some AdvancedGet indicators like the Elipse etc. but this is only a guide as we all know price will do whatever it does.
Another indicator in our favour is the GetStochastic which has the last false bar to the downside.

A short trade would be aggressive here as the consolidation should be broken to give us better direction but if intraday trading, await your trigger point.

Whichever direction it goes use your filter to enter, but the better direction would be with the trend, but as previously mentioned a break of the resistance could happen, be patient.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.