UJ is testing nicely and generating price action to match the setup. Lets see what happens
UJ seemingly overextended is backing up off the gas pedal in what could end up as a bull trap. Only one way to find out. LIBRA play with MOMENTUM entry
We had a break down and stuck in a channel so we are waiting for continuation in order to confirm where we are going. All the news about leaders and countries seeing the possibility of moving away from a Dollar back market has allowed currencies to gain strength and the Dollar to weaken.
Bigger timeframe has shown us an inverse H&S and the neckline has been broken. Currently we had a double bottom and slight move upwards. Where we allows for either a pullback before fully bolstering to the direction it wants to. My analysis is showing me a long but I will wait for further confirmation before entering.
UJ seems to be in a overall bullish trend and we can identify a break and retest setup with sellers getting trapped. Lets see how it plays out
UJ: - 4H Bull Market; - 1H Bull Market; - 15m Bull Market; - Find Go Long. - Currently, there is a downtrend of 15m, wait for Break The key level, confirm the uptrend, Retest Key Level and Go Long like Plan
USDJPY has made bullish change of character (chcoch). Price took buyers liquidity twice. So candles that took liquidity is my point of interest (poi). We also have liquidity build above poi's. Equal highs that we see above current price is our target for long. Will enter with lower timeframe conformation. Good luck:)
Lets see if we get UJ right this time with the 618 limit setup and dollar showing some momentum at a very good level
Literally the same exact setup (break and retest) we just posted for AU but this time they are swinging pairs the other way (probably, who knows) It makes sense tho since last setup hit TP and reversed. Would rather wait for a candle close above previous candle but I like the USD momentum I see across the board.
Here is how I am really seeing it and what my forecast says, after this I'll be focused on UZ. Even though I see this, I have opened up the probability of being wrong and the market turning the other completely.
I am seeing this melt for quite a bit before it breaks out of this channel and continues the bullish trend. We are still in the pullback, ZOOOOOOOM THE FCKU OUUT and you'll see there's quite a bit before the bigger trend. UNLESS If we have a break to the upside and retest then we have to prepare for a very volatile market because demand is on the upside but...
UJ has come to a critical location and buyers seem to be stalling. Using our reversal setup will try to catch a potential fall
B&R setup identified in UJ in line with current uptrend. Lets see if we can get a nice move to complete higher timeframe harmonic pattern
UJ has broken out and closed above structure with inside bar also breaking up. Lets go for at least 2R in this reversal
OANDA:USDJPY Friday is half over as we come down to London close soon. I always view multi time frames for my view on the days action. Trade well
OANDA:USDJPY In the wake of Fed Chair JP, markets calm and everyone back to work. Taking shorts today. Trade smart Trade well
Beautiful breakdown of range and going for a quick 2R. Lets see what happens!