Display:
USDJPY
Description: As shown above we have
USDJPY
. This pair is currently bullish and its
BOOMING! it isn't the easiest to trade at time because of the fast pace and can easily throw you off, however
we have a CLEAR UPTREND and possible Continuation on our hands!!
On the Monthly Chart we have a pretty Significant Doji
On the Weekly Chart we have a set of Doji's (possible correction//indecision).
On the Daily Chart we have a Bullish Piercing Candle off Structure Support// MWD SUPP:115.10 (PREV LONGTERM RESIS)
Indicator/s: EMA ( Monthly ) ALL EMA'S BULLISH
( Weekly ) ALL EMA'S BULLISH 20 crossing above 200 & 50 Early December
( Daily ) 20 EMA near term support broken last week but we have now closed above 50 EMA Magnetic
Support
Duration: Long Term ( SWING )
Decision: There are two scenarios with this pair although i favour Longs ill keep in mind the Double Top put in early last
week at M Res:118.45 and near term structure resistance at 117.20 from this level there is a possibility we
could retrace once more to create a HL ( or continue the downside move). Upon a break of the Descending
Trendline ill be waiting for a break and close above 117.20 for any longs to be considered, if this happens our
Fib extension levels// M Res:118.45 further target would be 121.50 2016 Yearly Resistance.
This would be accompanied by positive correlation with :
USDOLLAR
DXY
JPN225
Trade Setup:
Entry: 117.35
TP 1: 118.45 ( M Res )
TP 2: 121.40 ( Y Res )
SL: 116.30
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis below.
Remember to always trade your stratergy... Happy Trading
Useful Information:
TREND: Bullish
INDICATORS: Moving Average
ATTACHED CHART : PM ill send you related charts
USDJPY
Description: As shown above we have
USDJPY
. This pair is currently bullish and its BOOMING! it isn't the easiest to trade at time because of the fast pace and can easily throw you off, however
we have a CLEAR UPTREND and possible Continuation on our hands!!
On the Monthly Chart we have a pretty Significant Doji
On the Weekly Chart we have a set of Doji's (possible correction//indecision).
On the Daily Chart we have a Bullish Piercing Candle off Structure Support// MWD SUPP:115.10 (PREV LONGTERM RESIS)
Indicator/s: EMA ( Monthly ) ALL EMA'S BULLISH
( Weekly ) ALL EMA'S BULLISH 20 crossing above 200 & 50 Early December
( Daily ) 20 EMA near term support broken last week but we have now closed above 50 EMA Magnetic
Support
Duration: Long Term ( SWING )
Decision: There are two scenarios with this pair although i favour Longs ill keep in mind the Double Top put in early last
week at M Res:118.45 and near term structure resistance at 117.20 from this level there is a possibility we
could retrace once more to create a HL ( or continue the downside move). Upon a break of the Descending
Trendline ill be waiting for a break and close above 117.20 for any longs to be considered, if this happens our
Fib extension levels// M Res:118.45 further target would be 121.50 2016 Yearly Resistance.
This would be accompanied by positive correlation with :
USDOLLAR
DXY
JPN225
Trade Setup:
Entry: 117.35
TP 1: 118.45 ( M Res )
TP 2: 121.40 ( Y Res )
SL: 116.30
Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out.
Your also welcome to post you analysis below.
Remember to always trade your stratergy... Happy Trading
Useful Information:
TREND: Bullish
INDICATORS: Moving Average
ATTACHED CHART : PM ill send you related charts
Trade active
Trade closed: stop reached:
ENTERED TOO EARLY UPDATE FOLLOW