Sell the breakout of the up trend line and sell
USDJPY sell setup when price touch trendline and resistance at 26/04/2016 FX:USDJPY
AUDJPY has been in an overall bearish downtrend over the past few years... consistently making lower lows. Though price action has been choppy making violent swings, the market is holding its bearish bias quite nicely. For this reason we are only interested in taking a short position on this pair. We are viewing this slight bounce on the hourly to be a corrective...
TRADE UPDATE Previous analysis: Please see original analysis linked below for in-depth explanation of our short bias. We are still awaiting a break below and close below this blue short-term up trend line on the hourly chart to execute a short position on this pair. We will also need to see confluence from our price action forecasting algorithm...
USDJPY has been in a pretty strong down trend since the beginning of 2016, consistently making lower lows and lower highs. Recently, we just broke out of a corrective consolidation zone marked by a grey rectangular box on the char which means that there is a lot of selling pressure pushing price action lower. A break below this current short-term uptrend may...
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Bearish Cypher Pattern on USDJPY Hourly chart.D point has stopped in a resistance point making the reversal stronger.Stop loss should be placed in the next resistance point and target 1 is at 38.2 fib level,target 2 61.8 fib level.
Go short if the next candle is bearish and it breaks out the 21 EMA.
USDJPY now at consolidation period. It is being trade between 122.20-30 to 123.60-75 I'm short from resistance. Good risk & reward ratio. Enjoy !