Weekly - Long-term Bearish Bias:
Long Term expecting price to reach these lows (marked out):
Invalidated if 115.617 level gets taken & Price closes above this level.
Similar to EURJPY. Currently at a resistance level, so watch for some candlestick patterns to form here. Failing this, we may head up to the higher resistance area, take out the stop orders from trader's holding sell positions and then maybe get some Bearish evidence to get short.
I decided to sell USDJPY as a minor correction using the Pitchfork external parallel line as resistance zone.*Short*
Considering the bullish trend As shown in the chart Based on Pitchfork strategy Sup/Res. I will enter again. *Long*
Have a good Day!!!!!
Based on monthly bearish channel and resistance level. JPY could strengthen technically against the USD. Tensions with NK could send this pair down to 110, which I'd like. Apart from that, NFP friday in 2 weeks, I may close it before that.
The price has bounced off the daily trend line resistance and is a good entry for a down trend continuation. Stop losses just above the trend line / previous high and with take profits at previous low (or lower for 2nd targets)
The USDJPY has changed, having been essentially flat and choppy for the last 12 months it now looks to be taking on a bearish outlook. This can be seen as a combination of the price action, the dropping economic performance as measured in the surprise index and the Trump administrations seeming failure to get anything done. Debt ceiling talks are approaching,...
this is a big cypher pattern that's already completed on USDJPY. This means we are now in a reversal zone, based on the ratios of this pattern. When such a large pattern appears i'd rather play "conservative". I've outlined a reversal box and i'm now waiting for a further confirmation on lower timeframes, such as 1hr and 4hr. Uptrend is still strong but...
Selling the US Dollar, the dollar has been strong for some time however the run higher is beginning to look extended across a number of pairs.
The USDJPY is shown here, i expect it to top out around 115 and intend to use that figure as timing for trades on other pairs.
The Yen is likely to remain weak but the 115 area may be reached at the same time as the...
This idea is the final part of the previous post regarding the pair. The previous idea is linked below but did not have entry levels at that point. The resistances were confirmed so I will be placing purchase orders at or just above, within the general resistance area.
The first point of entry will be to short at 111.7, take profit at 109.15 and stop loss at...
USDJPY on H4 chart is in a downward trend, where lows and highs are at lower and lower levels. Last week there was a correction of bearish impulse which began on June 2nd. This correction has reached confluence of resistance, where horizontal area 110.65 converges with downward trend line from 11th of May this year.
In that place bulls gave up and pair returned...
As a result of yesterday’s declines USDJPY has overcome important support at 110.30. If declines are continued we would expect to close previous bullish gap and perhaps even re-test 108.25 area. It is worth noting that yesterday’s support was still not tested from the bottom (as a resistance) and now coincides with the 38.2% Fibonacci correction from previous...
As a result of overnight falls USDJPY broke important support at 110.30. If declines will continue we expect closing of the bullish gap from April 24th and perhaps even re-test of 108.25 area. It is worth noting that recently broken support was still not tested from the bottom (as a resistance). Such re-test would be a good opportunity to join declines. In short...