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UJ in my perception seems to be in a bullish trend until 114.200 resistance zone. Price respected the 0.618 Fib retracement and at this point we are at .50 fib region. I will consider to enter a Buy position depends on the market opens.
Let see if we can reach our Main Target Fib ext -27% and Daily resistance zone.
Usdjpy - H4 - shorts in play down to 110 and possibly 109.30 before going long
Neutral view at the moment, as we had a break of the ascending trendline on Friday with a retest of this trendline just before market close. Moving averages were set to cross but this could just be a fakeout. The daily timeframe shows a very close rejection of the same ascending trendline, however price has ranged since the end of April. Daily candle close Friday ...
UsdJpy - H4 time frame - Short setup under a weekly supply zone. expecting a sharp reversal down to 200 pips and maybe lower for this pair.
UsdJpy - H4 - I see price in a strong weekly supply zone and see a sharp reversal for this pair down to 107.50 and lower if usd weakness comes back into play
UsdJpy - Weekly chart - Expecting a strong yen over the next few weeks/months. Great sell setup for this pair with a great risk to reward ratio.
Possible USDJPY Trade.
As you can see there are 2 chances to get a good opportunity, be patient and see what will be coming ..
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USDJPY is now testing major resistance at 109.76 (Fibonacci retracement, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to 108.33 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 110.36 (above multiple Fibonacci retracements, above pullback resistance).
Support at 107.830 (thick red line) seems to be a buy signal for most, although there is strong support coming from 2012 (purple line) which was tested in June 2016, twice in August 2016 and twice again in September 2016 which all failed to break. Ill be placing buys when UJ touches the purple support line, with SL below the thick red line - personally don't think ...
Currently price is being pushed into a wedge pattern on a 4 hourly, we have slightly movement in the RSI but oversold on the Stock. Could be a potential turning point for this pair as it is sitting in a key demand area to the upside. This may be the breakout of the wedge and a climb back to 113.000 region next week.
USD/JPY falls to 50% Fibo at 112.45
Due to interest rate hike by the Federal Reserve, the currency exchange rate got a downside momentum, which lasted until the pair reached the last combined support level formed by the weekly S1 and the 50% Fibonacci retracement level at 112.45. A successful recovery of the buck looks unlikely, as the rate will need to cross a ...
UsdJpy - Daily chart - expecting bullish extension legs from here for all jpy pairs. Technically I see dollar index and jpy pairs on a pull back so good setups across all dollar and jpy pairs.
I have entered USDJPY and shorting it down to 110.500 level, Dollar is still weak from last week and I believe it can still be shorted before we see any movement to the upside. I am deep in profit after setting a sell stop which has been hit. Take profit at 110.513
A nice close on Friday afternoon of a Bearish Engulfing with not much bull power being shown in the remaining hours of the market, closing at 112.085. On a 1 hour timeframe a head and shoulders has been created with the pair following suit and continuing to fall, adding to the strength of my short sentiment. US news is pretty quite until Tuesday afternoon so could ...
Potential Bearish Gartley Pattern Forming
Entry @ D-Completion (112.747)
Target 1 @ .382 (112.458)
Target 2 @ .618 (112.280)
Stop Loss @ 1.13 (112.936)
On Friday this pairs trading range fluctuated nearly 1000 points from highs of 113.45 to lows of 112.30.
Looking at the daily time frame price is currently respecting MA's and I am expecting a daily close above 112.80 to confirm bullish bias.
I have highlighted this as a key level in accordance with the daily trend line that stood firm throughout last weeks ...
Potential Bearish Gartley Pattern Forming
Entry @ D-Completion
Target 1 @ .382
Target 2 @ .618
Stop Loss @ 1.13