USDJPY is currently flirting with support, I anticipate once its broken its gonna fall quickly to the bottom again..
We can see in this chart price has broken and been rejected at this level several times but it will very soon break it and hit the floor
May be a while before it reaches its highs again
On the 3rd of August 1998 USDJPY hit 147.53. In February 2012,14 years later the price hit 76. I remember trading back in January 2010 when the price hit 90 and I was piling on USD LONG trades in the absolute belief that the price had bottomed and SURELY we can't go any lower. I had the same belief when the price hit 80. I remember back in Jan 2012 reading an...
Possible drop for USDJPY. I have been following this pair closely for a few months now and it has been acting throughout a descending wedge and I have been awaiting the breakout of the wedge and it has occurred today. The price has also been moving under both the 200 EMA and 50 EMA which also adds to the short bias. I have placed a long term trade with over 200...
USDJPY HAS BEEN TRAVELLINNG IN AN ASCENDING CHANNNEL EVER SINCE THE LARGE DROP ON ALL FX PAIRS, HOWEVER IT RECENTLY BROKE BELOW IT AND CLOSED.
WE EXPECT PRICE TO RETEST THE CHANNEL (WHERE PRICE IS AT NOW) BEFORE DROPPING TO THE -0.27 EXTENSION...
USDJPY has been travelling in an ascending channel ever since the large drop on all the fx pairs. At the moment , price is at the bottom of the channel and also the 0.618 retracement level of the previous wave upwards. ALL signs are indicating a move up to the TP which is -.027 extension level.
IF PRICE HITS STL , PRICE WILL MOST LIKELY FOLLOW THE RED LINE.
I am trading on a small account, documenting my progress. This is not intended to be a signal!
Descending- H1 Channel
Awaiting Pull-back to retest upper channel, and fib level 0.382 were we have a sell limit placed. Take profit is at strong H4 Support.
Sell Limit - 110.380
SL - 110.816
TP - 108.500
USD JPY , is about to explode for one of the directions! We can see that we are consolidating around 109.831-110.00.
At this moment a clean break of the trend line will take us to 110.350 or even 110.600.
However a daily break of 109.70 can take us to the lows of 109.050.
This is a trade that you do not want to miss!
All of the best
Is USDJPY diving back down to 112.600 area to grab some liquidity, only to return back North again/ Looking left at the chart on a 4hr this can be seen many times. Busy day today & tomorrow fundamental wise, let's see if this 112.600 holds, could be a possibility of a break down to 112.450 for a stop hunt before positive news takes affect...
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...
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.