This pattern shows a gaining support of an uptrend for UJ. After a long drop, its finally hit resistance at 106.5 and has been rising ever since, as shown by this 4h chart.
In the first 2 hours of trading UJ managed to carve 30 pips lower to 106.3 but since then UJ has edged higher to 106.8 highs (atm 106.7). Whether we will hit the target at 105. im not sure, the starting data has been mixed. Whilst we ticked lower 40 pips which was a good sign, we quickly pulled back all of them and $yen is now trading 50 pips up from the lows -...
$Yen dropped 150 pips following the $ employment report and I for one am confused... I had assumed JPY had been acting as a Risk-Off function against the FED hike e,g, $yen had been falling to these levels as the fed hiking risk caused safety flows into JPY... turns out this may not be the case. The market has absorbed the emp report at dovish, UJ shedding 150...
Despite the bullish pressure from the beginning of the week, there has been no H4 Close above the 150-Week SMA. Continued failure at this point and price will likely be pushed back down to 110.600 Pivot / Previous Resistance / 50% Fib of the Wave A-B on Chart (Wave labels are arbitrary in this case). Strategy: Wait and See approach for now. A H4 Close...
It's a Fantabulous Friday for UJ - taking it to the next level - here comes 111 ;) (111 will should hit within the next 2 hours. Happy weekend y'all
Just that, the power of fib extension tool is tremendous... Strong resistance, high probability of reversal, the daily chart already shows bear candle ... lets follow ...
There is no better time to buy US Dollar but NOW! - The might Dollar fall big time : 1.05 The loonie fall just below 70 cents (U.S.) in January and as of the beginning of May was right around the 79 - 80-cent mark. 98% Dollar could easily move higher starting this week, and 2% it could fall. Forecasting currency moves are even harder to predict than the stock...
TF DAY It is in the C-wave state. and likely flag pattern please trade with carefully Target = 105-106 Stop in 1H Run in 4H End of week it is break out, maybe watch for open market for sure.
Oversold : Too Much Shorted HIgh Volume at last low Divergence in RSI and MACD Long UJ for 112-113 within next 2 weeks with Stop Loss at last low of 107.7
USDJPY Is in accumulation to attempt to tag a level in the 120 area. There is a lot of downward momentum on the monthly and weekly charts so watch to see if this gets absorbed. 2/3 of the wedge I would look for breakout, if we reach the apex of the wedge then it has been absorbed and will more than likely fail.
moving average recovery 21 and 89 long