USDJPY Setup: HNS Confluence: CRS Confirmation Needed Price has to break neckline Entry: Buy @ 107.50, SL @ 106.70 (80 pips), TP @ 109.00 (150 pips)
- UJ has held up to key support levels so I am expecting some upward pressure to continue. ~~~~~~Looking for possible resistance at price level now, then buyers will flock out of trade (they get nervous) ~~~~~~ you will see institutional investors pile on long(buy) positions to continue the dollars inflation path --> Call made based on technical factors going...
FX:USDJPY UJ hitting supply zone and despite all roses and flowers for trade tensions, it still expected to retrace from here
USDJPY is on the way to brake to the downside. Everything is covered in the video. Enjoy.
I will list the factors that might lead to a BIG SELL on UJ soon. 1)Looking left, you can see that price broke out VERY STRONGLY from the symmetric triangular formation(light purple triangle.) This is a BEARISH SET-UP. 2) The Trend Line Resistance(Royal Blue line) has capped the upside since October'18. And this week as well, it has managed to stop the upside....
With the impending US economic bust that is about to happen when the Dollar bursts (based upon the DXY and US30), I'm bearish on UJ for this week. I see it continuing in an Elliot wave pattern to retest its low point from early last week. I want to see if price respects that low point or breaks below it for the continuation.
The French CAC40 index appears to be leading USDJPY by 9 weeks. There is no reason why it should (other than the big macro picture, USDJPY falls on in risk-off sentiment and so do equities). Let's see!
Keep your analysis clean and simple. Vision wise it gives you a better understanding and clear trading plan. A technical break should bring a long way down for UJ to test support areas. Illustrated are the possible target levels. Fundamentally: USD Dollar finally starts feeling the hit of the FED's decisions Markets worldwide are in a critical situation...
Congrats to everyone who held a long position on this pair. You made bank. Now for the ones who think it's too late to capture some pips, you're mistaken. Look at enter at the retest of structure for a move higher!
USDJPY Looks to be in a bullish channel preparing for another down move next week
Looking for UJ to Break through the 200EMA and continue down trend