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UsdJpy - Daily and H4 - Price landed into a demand area on daily chart and so far holding up good combined with dollar strength suggests this pair should move on higher.
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 ...
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.
here you can see the hourly chart on USDJPY. I'm here because the yellox box represents a structure level on the daily, and i know it could be a place of rebounce. Therefore i'm allowed to seek for trading opportunities on lower timeframes such ad 4h and 1h: on the hourly i then found a bat pattern near to completion. Nice structure trading opportunity. ...
1H Ending diagonal leading to potential upward swing in the trend. RSI (14) signalling unconfirmed recent lows with bullish divergence.
Stop placement at 109.90 level (recent lows)
Long breakout over 111.00 (outside the ending diagonal)
Profit Target at 114.37 (the most recent 1H/ 1D pivot high)
Preferably price will break upwards out of the ending diagonal and ...
Simple overlay of price/action from Sep 2015. We shall see.
As advised yesterday USDJPY managed to jump above 102.85 where market activate farther advance that will face resistance zone for the downtrend line around 104.30-50
From that zone will expect a drop correction to hit the market toward 101.75 zone
Above 104.50 market will face another resistance at 105.00-20