USD/JPY LONG TP1: 113.726 TP2: 115.043
Possible long on FX:USDJPY around 111-110, beware we will have a strong resistance area above, so if you are thinking of going long think about the resistance area that will be formed once price reach the zone
Not the best set up but let see how it plays out
Fundamentally USD is still supported. Today the 61.8% retracement offers a good entry.
Switching sides this week on u.j, the attached dxy chart also shows the room to the downside in the USD for the coming week, with no word out of the fed, all eyes on Hammond and Draghi we have a typical buy rumour sell fact scenario on our hands. will be posting updates in the new telegram channel thanks and gl
Going long on USDJPY before fed hike. Expectations for future rate hikes will decide direction. Yellen can promise more hikes but implementing them is another story :)
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USDJPY broke 4H structure and downtrend in the middle of the week and now we can see pullback to areas below and after PA confirmation we shall see a big movement up. Next confirmation to buy USDJPY will be after breaking previous highs. We can see a strong dollar this week, so after pullback i will be looking for opportunities to long dolar! Don't forget to...
Sell below 114.95. Stop loss ta 116.15. Take profit at 111.70. Reason for the trading strategy: Price has shot up and reached our profit target perfectly. We now look to sell below major resistance at 114.95 (Fibonacci extension, horizontal resistance, descending resistance, Fibonacci retracement) for a push down to 111.70 support (Fibonacci extension,...
Sell below 114.25. Stop loss at 114.97. Take profit at 112.90. Reason for the trading strategy (technically): Price has dropped from our selling area really nicely. We remain bearish below 114.25 resistance for a further push down to 112.90 support (Fibonacci retracement, horizontal overlap support) as we also tighten our stop loss to 114.97 to protect our...
I am expecting a drop here let me explain to your guys the reasons. .Compression Zone .Price too expensive to buy .Price Holding At Certain Level .Triangle Compression Good Luck Regards MJ (usd/jpy)
Sell below 114.25. Stop loss at 114.97. Take profit at 112.90. Reason for the trading strategy (technically): Price is testing major resistance at 114.25 (Fibonacci retracement, horizontal resistance) where we expect a reaction from and a drop to at least 112.90 support (Fibonacci retracement, horizontal overlap support). RSI (34) is seeing major resistance at...
The case for USDJPY longs is strong: 1) Strong support area 2) Strong correlation with 10Y yield differential (shown in white). This differential should increase dramatically in the next few weeks/months. 3) Speculative interest is no longer at its highest levels. 4) Other risk assets (e.g. equities) remain well supported. The market can remain irrational for...