USDJPY (1H) – short term bearish bias
The US dollar’s rally came under pressure as it approached the daily resistance level of 109.70. The RSI overshot into the over-bought area and indicated an over-extension. The sharp drop on Friday was a sign that buyers started to take some chips off the table and bagged their profits. We may expect the pair to remain under...
USDJPY - Intraday - We look to Sell at 109.07 (stop at 109.32)
Broke the sequence of 2 negative daily performances. Selling posted in Asia. The rally is close to an exhaustion count on the intraday chart. The 50% Fibonacci retracement is located at 109.07 from 109.72 to 108.42. Previous resistance located at 109.07.
Our profit targets will be 108.24 and...
usdjpy is currently consolidating on a key support level 108.5.
on a daily this horizontal support matches perfectly with rising support of a parallel channel .
on 4H the pair has formed a descending triangle formation.
to identify a further market direction be focused on an occasional breakout of a...
The technical cross-section**:
A strength of trend: -3
The priority area of transactions: selling
Selling in the area of 1,1150 with a stop above 1,1190 and a profit in area 1,1070.
Selling in the area of 1,1220 with a stop below 1,1250 and a profit in area 1,1140.
The technical cross-section:
The USDJPY is a buy only asset. On any pullback it gets bought into, the only downside to trading this pair is that the swings are quite wide. Tight stops will get taken out easily.
The stochastic crossed bullish and we can see higher lows and higher highs. If we can stay above 108400 then we should be looking for buys.
I suggest waiting for buying...
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I will begin USDJPY chart analysis for December 9th.
This shows XAUUSD 30M candle chart for last Friday.
It was short position trading strategy.
It fell $16.33 from the short position entry point.
Congratulations for those who made...
This is a really hard one to call! USD gained alot of strength after fridays NFP numbers, however is still bearish on the daily timeframe.
USDJPY will either break the channel and make a move down to the level i have marked, OR will bounce off the trendline and rally up.
Ill be waiting and will react accordingly.
let me know your thoughts on this one.