USDJPY Long Trade Possibility! Trade with care as always! Looking For A Small Up Move Before The Market Decides To Reverse! A Decent/tight SL of Around 109.25 Levels and a TP of Around 109.60 Levels will be just perfect.
Hell traders, We all are waiting to for rockets on this pair, right? calm your nerves! I don't think it will take off from here we may see more downside in upcoming days. Keep an eye 618 levels. This is not a trade setup, if it fulfills my strategy requirements i will take it and update here. Thanks!
USDJPY Multiple Time Frame Analysis showing weekly chart (top left), daily chart (top right), 240 min (bottom left), 60 min (bottom right). At the moment finding support around 105 with a falling wedge developing on the daily chart. Looking for upside as the wedge formation completes and price works its way back above the short term moving averages. Notice that...
We can see that USDJPY has reacted perfectly off our resistance at 107.70 which if a fibonacci retracement level and a horizontal pullback resistance. RSI is also correspondingly reacting really nicely off our descending resistance line as forecasted. Our next major level of support remains at 105.70 which is a fibonacci extension level and a major swing low...
USDJPY is making a strong pullback to resistance at 107.70 which is our 23.6% Fibonacci retracement and horizontal pullback resistance level. Breaking this level might signal a stronger recovery. What is interesting is how RSI continuously reacts well to our descending resistance line and it's approaching the descending resistance line again, corresponding with...
A simple look at the daily chart shows a trend line that can be drawn from the previous lows and touches the current low in the Yen. It is a make or break level which if held could set up for a move back to the 1.10 level and possibly above. If the level does not hold then another strong push can be expected which would reach down toward the 1.05 level. It's...
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 drops to 111.30 Due to fears of a large reduction in foreign Dollar asset purchases, the American currency fell by 0.86% against the Yen just in couple of hours. The plunge was stopped only after the exchange rate reached support area located around the weekly S2 and the monthly S1. Accordingly, today bulls are expected to try to restore lost positions....
USD/JPY moves between two SMAs In the end of the previous week the currency exchange rate made a breakout from the rising wedge formation. However, because of a decreased liquidity that was caused by Christmas holidays it failed to make a rebound from the lower trend-line of a junior ascending channel. At the moment, it is moving horizontally being squeezed...
USD/JPY rises to 112.70 An absence of any significant news in first half of the previous trading session expectedly led to a rebound from support zone located near the 112.10 mark. But then reports about agreement reached on tax reform by the House and Senate caused a spike up to the 112.70 mark. As further path to the north is obstructed by the falling 100- and...
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...
USD/JPY fails to bypass 113.68 Most of the previous trading session the currency rate spent moving towards the 23.6% Fibonacci retracement level located at 114.03. Nevertheless, this target was not achieved due to resistance area formed near the 113.70 mark. As for today, a minor retreat back to 113.20 is possible. However, the Yen unlikely to gain much value...
Buy around 112.93-113.16 for a target to 114.22, stop below 112.45
USD/JPY falls from rising wedge by 1.22% An announcement made by General Flynn that led to rapid sell-off of the buck against all major currencies perfectly matched with a breaking point of a readjusted rising wedge formation. Fortunately, bulls managed to create support near the 111.80 mark that was surrounded by the 100- and 200-hour SMAs as well as the...