USD/JPY is trading in a range. What we want to see is breakout to either direction, but since MACD is making lower highs we favor break to the downside also 110 is a round number and therefore huge resistance level for us. 1. If we get a break to the downside our profit taking area will be between 106.50 and 106.00 area and stop loss above the range area. 2. If...
Liking the look of a short on the USD/JPY.
We're at a horizontal resistance level and a long term trendline. We also just made two legs up from a prior congestion area. It may be a good idea to wait for a confirmation candle at least on a 1h, but i think its a good bet to short here , risking about 70-80 pips and aiming for a test down to 108.
There is a potential breakout on the 240min chart. I would prefer to see a really bullish candle come out of this pattern before getting long. I would take profits no higher than the 113.25 zone. We are still in a bearish trend so this would be a good area to get short. Good luck trading out there.
AUD/JPY is testing the resistance at the 86 level for the 4th time on the 4 hour chart. If resistance breaks possible long opportunity. If not good short opportunity.
Look at this chart of the USDJPY with weekly candles. It would make sense to at least surmise that there is a temporary top in place. Should we be looking to go long? or short? Below 116.00 should confirm the top for now. The price action from Feb 2nd is twice the average daily range. There are many possible Elliott Wave counts on this. 3 in particular that all...
Consolidation till 109.50 area, then long till 110.50-60 area. If price closes below the high of wave 1, the pattern becomes invalid. Happy Trading!
At H4 TF we have about 15 days and 4H the prices of U/J have been moved within the I. Price area. At the II. Price Area it is a still thin of prices having been moving in. To reach a new upward momentum it needs to breakout the projected trend-line as resistance and from there a support level will be found to look for the opportunity to go long with. An...
Possible channel continuation to test trendline. Trade downward break of channel (if triggered) for trend continuation.
Possible Short entry if price closes below and holds trend line. Looking to see a death cross form. Although it is far too early to tell.
Cypher pattern completed on the 60 minute chart earlier and the market is now in an oversold condition.
Yen long positions on the futures market are at record highs and historically any high risk event to the dollar supports the Yen as investors seek to protect themselves from uncertainty. Price rejecting the 50% fib level and an interesting candle formation lead to a reasonable conclusion that further downside gains are to be made this week. Poor US news will...
USD/JPY interesenting signal would be to see the price breaking over the descending channel and the fibo 0.23 level from the lows in 2012-2013 and the higs in 2015, in a closer tearm using the last available fibo we find a possible pullback before fighting for the resistance in 113.94.
The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support. The gains in the US Dollar came about as various Fed...
Price broke downtrend. It should join daily KS. Check related idea for more details.