Looking to enter a short term long position after rejection of (new) daily trend line, aiming for 60 pips R:R - 3. Hoping for a double top for confirmation to enter a longer term short entry, purple highlighted area is resistance area, a rejection of this area and daily close below 109.000 will confirm my entry. R : R - 7, aiming to retest 107.00 area.
USDJPY - shorts or longs on 15min take your pick
I'm more inclined to go short due to higher TF's still being bearish, but with US trade talks looking positive and JPY seeming to weaken last week it could turn the tables
Any questions drop me a message or a comment im happy to help
We have multiple indicators lining up to suggest US dollar versus Japanese Yen price action is about to head lower towards low 107 area.
Firsly we have a descending trendline that we have highlighted on our trading view chart coming from 109 area on 10th of July and being tapped twice overnight at low 108s before pulling back to 107.85 area. ...
USDJPY buy set up daily
Entry from support trend line up to resistance trend line. Support has held up very well since March 2018. The market has respected the Support trend line with numerous touches allowing the market to reverse trend.
As the market is reaching the end of the triangle, we're looking at UJ to push above levels 111.500
EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
Very strong bullish move on this pair last week and resistance has been met. I believe this pair has run out of steam and a correction is needed hence my personal bias on this pair is short to the shown level for the time being.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=113.05.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=112.95.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
USD/JPY bull trend by keeping the market above the 112.50.
USD/JPY is trading above all simple moving averages (SMA) which confirming the bullish trend. The market is also trading above the bull trendline, if bull run remains above 112.50 the next objective is 113.18, July high. However failure to break above the July high (113.18) this can lead to a reversal...
Following the yesterdays’ selloff, the US dollar is trying to stage a comeback on Thursday, after Chinese government officials played down the reports that China is going to reduce its US Treasury holdings. However, the momentum looks limited as the bulls are taking a wait-and-see approach ahead of tomorrow’s key US economic data.
The market will analyze CPI...
Having spent almost three weeks above the 113.00 level, the Yen took up the reins and added almost 100 points to the bulls’ ‘money box’. Again, it means the markets are not sure in the US dollar, and the December rate hike has already become a broken record. So, it is not enough to live up to USD’s advanced hype. The traders are way more interested in FOMC’s...
USD/JPY short downtrend on H1.
You can see the importance of diagonal resistance and support marked by red lines, creating a kind of tunnel.
On the top of that we have a Fibonacci retracement. Strongest resistance usually at 0.5 and 0.618 levels.
By drawing these it's easier to tell the entry point.
These levels work as resistance, in this case, and giving you an...