UPDATE: TP 1 hit closed trade. Elliot wave count Wave 3 may fall till 121.055. But 120.145 or 118.472 are also valid if this pair keeps breaking these levels.
This channel is currently holding up nearing today's market close. For those looking for an optimized trade, I would actually leave any short entries to Monday's open. Given the current selling, we can expect a gap up as traders are looking to cover. Once the gap up occurs, I would be looking to enter short once again at the much better price. Pair continues to...
MOved in Bullish Trend So Do not Trade The Breakout as volume is gonna come very less
USDJPY SHORTNING TRADEIDEA365 from JAPAN
Over on the hourly time-frame, USDJPY remains bearish as it tests a resistance zone previous broken out of. As we look at the support zone, this pair once again looks to resume a range. Current trade set up is to go short with a price target just tad below the 122.80~ mark with a stop loss just at 124~ giving a good reward to risk ratio.
SELL USD/JPY BELOW 122.45 WITH SL 122.84 TP 122.04. Happy Trading!
USDJPY Throw away in the trash SHORT TRADEIDEA365 from JAPAN
Expectiing the USDJPY fall to continue in the very near term, I place a sell limit order @ 123.80. The idea is supported by RSI that moves in a downward channel. Fundamentaly the idea is also supported by Bank of Japan Kuroda, saying that " Yen's excessive rises have been corrected in past 3 years, also adding that real effective exchange rate shows that yen is...
Posiion is displayed on the chart with potential targets and SL
USDJPY H4 chart delivers a strong selling signal and a fair risk to reward ratio. Target 1 and 2 are Fibonacci retracements (38.2% and 50%) of 22-May 120.63 low and 05-June 125.80 high.
Worthful negative divergence showed up on the 4H chart. SL and TP levels equal to weekly R1 and S1 levels. I think the risk to reward ratio is fair enough to jump into this trade.
Shorted USJPY at 124.25 based on my previous pattern on USDJPY. Break below 123.56 for better confirmation and may also close as a doji or shooting star on daily chart.
Reasonable level to short UsdJpy. Yen is at multi year trend line support so we expect a reasonable bounce in Yen.
Turn to weekly chart and look at the structure for previous resistance(horizontal line) CORRECTION first take profit should be around 122.00 which is not correct in the chart
Both Gartley and Butterfly indicating the same PRZ. Recent strong bullish move of this pattern is the only con point.
Found a bearish gartley pattern in the USD/JPY 4h chart. Stops go above the X- leg. Profit targets at: .382 (hit) .618 and an extended target at 1.272 Lets see what happens