A double top is a bearish reversal chart pattern that typically signals the end of an uptrend and the beginning of a downtrend. It is one of the most common and reliable patterns in technical analysis, indicating that the asset may have reached a significant resistance level. ### Characteristics of a Double Top 1. **Shape**: The double top pattern resembles the...
"Japan faces a tug-of-war with yen bears" says the recent Reuters article on this topic, which has had a lot of articles in the recent buildup to the BOJ intervention. What it basically implies is that professional traders have embarked in a money making roller coaster pushing the USDJPY higher knowing full well that the BOJ will step in and bring it down...
In this Analysis, we can see some Buy or sell Levels that I shared, watch it carefully, and Follow Price action.Thanks
Preferred direction: SELL Comment: The Japanese yen , like the franc in the past, perfectly worked out all our previous trading ideas. Sell-priority for the American currency remains, and at the same time, for the USDJPY currency pair we also expect a fall to the level of 153.222 . Here we consider two scenarios. Scenario №1 involves shorting from the...
Looking for a sell opportunity, if it break the support line and trendline. Waiting for a breakout and retest, then i will again enter into the sell trade. Use proper risk management. Thank you
Looking for a sell opportunity in UJ Reasons to sell: 1. If price breaks and retest uptrend line which I drawn in chart. 2. if price break and retest the support line.
My opinion of USDJPY, i see it as a shorting opportunity
The dollar against the yen rose sharply yesterday to above the 155.84 level, now trying to reach 156.30. Any stabilization above the level of 156.30 will end the negative transactions, and the upward process will be activated to the previous resistance level of 157.62. but any stabilite under 155.84, again, the negative trading will be active to reach 155.61. Be...
Hello,Friends! Bearish trend on USD/JPY, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 152.233. ✅LIKE AND COMMENT MY IDEAS✅
USDJPY still seems to show the signs of bullish movement. Watch it keep climbing until right before the closure of market on Friday.
We give attention to the highlighted area any price action we sell or buy. And moves the stop loss to the entry after 50 pips and close half trade
USDJPY is moving within the boundaries of an ascending wedge. The chart broke through the descending channel. The price is under the resistance level, which coincides with the 50% retracement level of the last bearish impulse. We expect a pullback. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
There is a potential trend reversal on the daily timeframe. Stop loss: 155.959 Take profit: 152
Disclaimer The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations
The Dollar-Yen pair rose to 155.900 during the Asian session on Friday as the Japanese Yen (JPY) faced fresh pressure. This was due to the Bank of Japan (BoJ) maintaining its bond purchases from the previous operation, abandoning an unexpected cut in debt purchases earlier this week. Traders speculate that the BoJ may cut bond purchases at its June meeting. BOJ...
Lock in your entry for USD/JPY at 155.12, perfectly poised at the 61.8% Fibonacci retracement and just steps away from the 100-period EMA at 155.16. This convergence offers a strong technical base for a bullish reversal, in line with the ongoing bullish sentiment in the market. The precise entry point boosts the risk/reward ratio, making it an excellent...
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Looking for a sell opportunity in UJ. Reason to sell: 1. if the candle breaks and retest the trendline, then go for sell. 2. forming 'M' Pattern in 5 minute chart. Use proper risk management. Thank you