Morning outlook - USD/JPY leaves falling wedge As it was expected, the currency rate continued to plunge in a falling wedge pattern, trying to reach the weekly S1 at 108.80. Due to existence of this pattern, a collective pressure from the 55-, 100- and 200-hour SMAs from the top and geopolitical tensions, the pair managed to reach this target. However,...
We are looking at shorting the USDJPY from the Weekly Central Pivot Point on a show of weakness, and if that fails then we have a backup in the form of our Weekly M3 zone. This is a typical sell zone in a downtrend, and we also have a confluence of factors at play here. 110.00 even handle Weekly M3 sell zone Bearish Bat pattern completion Major structure...
Near Term Setup - LONG USDJPY Expected reversal from 108.709 to 111.015 Entry:108.287 (based on April Support levels) Stop Loss: 108.709 Target Profit: 111.015 Expected Time frame for trade is 3 days Note: Reversal has not been confirmed as signal line has not crossed over as yet.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Taking a look at the USDJPY daily chart you can see that the cycle suggests that the yen is at a buying point. Notice that when you pull up your cycle tool that you can measure the previous cycle and that it is about time to start looking for long setups with a target of the previous highs.
USD/JPY Outlook Resistance Level Target: 114.46 Support Levels: 110. 520, 110.107, 108.913, 108.157 Target Entry (Long): 108.913 to 108.157 (check for price signalling of reversal before entry) Target Entry (Take Profit): 114.46 There appears to be a horizontal channel which has formed from March 2017 up until now between 114.464 and 108.156. The price...
USDJPY we are probably near an end of the bullish retracement, stochastic is overbought and Heiken Ashi candles are showing wickness i'm expecting a bearish move soon. Trade with care ;)
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've also been obsessed with Yen pairs along with Loonie pairs... especially CADJPY! I currently have 4 long on the Forex pair because of the formation of inverse...
Consolidation forming beetwen the 0.50 and 0.618 Fibonacci, i will wait a break of one of the resistance, feel free to take ideas but as always be carefully and trade with your own mind ;)
Usdjpy is poised to relieve the buying pressure short term, and with the double top I wouldn't remove a complete reversal off the table. We have a potential Cypher pattern completion @ 113.322. We also have a potential Bat pattern completion @ 113.551. Let's see how this plays out through the week.
Sell below 113.06. Stop loss at 113.96. Take profit at 110.97. Reason for the trading strategy (technically): Price has started to form a nice reversal pattern at our selling area. We remain bearish looking to sell at major resistance of 113.06 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, bearish divergence) and expect a drop...
Our preference: position bought above 113.20 with targets at 113.70 & 114.00 in extension. Alternative scenario: in break of 113,20, a continuation of the drop will be envisageable with 112,80 & 112,40 in line of sight. Comment: the 113,20 passing is a positive signal that opened the way to the 113,70.
Sell below 113.06. Stop loss at 113.96. Take profit at 110.97. Reason for the trading strategy (technically): Price has continued to rise perfectly towards our profit target. We prepare to sell below major resistance at 113.06 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance) and expect a drop towards at least 110.97 support (Fibonacci...
Hello Traders, Price is forming a reversal pattern and we have macd divergence but not so strong, look for sell as much high as you can. First target in the pattern at the bottom trend line. Good Luck! Cheers, Jonas