This current uptrend on the USDJPY, although overbought on the RSI is showing strength for the moment on the MACD. I would expect it to ride the trend until the MACD shows signs of weakness and then a breakout on the downside.
We could potentially see this breakout at some point next week. Im not trading but i will definitely keep an eye out and see how this one...
FX:USDJPY is in a harmonic move these days. There was a bat pattern and now we are in the next bat pattern. And this is a great opportunity to go short. As we see price has not hit the D leg yet. We have an additional confluence bearish divergence. The R/R is very good, stops go above 120.26 and our targets will be 119.21 and 119.79. Look for structure...
This is my favorite trade from a fundamental perspective at the moment and is the best way to position oneself following the FOMC interest rate decision. Due to my bearish sentiment on US equities, the flight to safehavens like the yen is a theme I am very confident will play out.
Interest rate maintenance for the US dollar now clears the way for the yen to...
I wake up, did some analyses and found out this perfect opportunity on FX_IDC:USDJMD
Completed Bat pattern at the PRZ zone with the confluence of:
1. Fibs 61.8
2. Structure resist
3. Daily R1
We have very nice R/R targets: Target 1 with 1/1.95 RR and Target 2 with 1/3.4 RR.
I want to mention that X leg is located in very strong resist zone, which gives us more...
I’m looking at a rising wedge type of pattern forming here on the USDJPY that is working it’s way toward a pretty significant level of structure (look left). We typically see a breakout to the downside with this type of setup as it represents the market losing steam after a high volume move.
I’ll be looking for short opportunities on this pair in the Live Trading...
THE POTENTIAL BEARISH BAT PATTERN:
AB=0.723XA;
CD=2.24CB
XD=1.27AX
ZONE FOR SELL:
S/L above 124.480
Target 1 = 123.990
Target 2 = 123.860
Target 3 = 123.340
Open your position after news (Gross Domestic Product Annualized (Q2)Preliminar).
Thanks for your likes and comments!
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
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
THERE IS QUITE A LOT CONFLUENCE FOR THIS TRADE I THOUGHT MAYBE I SHOULD POST IT OUT THERE.
NOTE: MARKET IS TOO SILENT NOWADAYS, NOTHING IS GOING THE WAY IT IS SUPPOSED TO BE. THUS, THIS TRADE MAY NOT WORK OUT. BUT OBSERVE THE CONFLUENT I POINT OUT AND MAKE YOUR OWN ANALYSIS.
W1 BEARISH ENGULFING
D1 20SMA 50SMA RESISTANCE
H4 20SMA 50SMA RESISTANCE
D1 50%...
AS YOU CAN SEE I HAVE QUIET A FEW CONFLUENCES LINED UP. IN WHICH THE OVERALL BIAS AND VISION IS QUIET BEAUTIFUL IF I DO SAY SO MYSELF SEEN AS ITS THE FIRST TIME IVE EVER ANALYSED THE PAIR.
MOVING FORWARD 2 TREND LINES HAVE BEEN BROKING AND KEY LEVELS OF SUPPORT HAVE BEEN DRAWN ON WHICH ARE ALSO IN LINE WITH FIB EXT.
OTHER CONFLUENCES AND DETAILS ON THE CHART ITSELF.
USDJPY 4 hour setup:
- 4 hour head and shoulders reversal pattern
- Inner trend line break and retest
- Willis zone Fibonacci retracement
- Extension targets line up with previous support levels
- Daily ascending trend line is also an extra confluence with targets as price looks for a possible third touch of trend line
Entry on break and retest of outer 4 hour trend line
After the much awaited NFP, We expect USD to make a big pullback!
USDJPY is unable to trade above the mini structure 119.80
Our short for this trade is 119.70 stop is very tiny above 119.80-85.
A break below 119.36 will give us a proper slide to 118.30 first target.
Below here we expect the pair to trade towards 117.119.
ENTRY: 119.70
STOP: 119.85
1ST TARGET:...
- USDJPY seems to be caught in a pretty clear range on 4h and 1h charts
- resistance zone is between 118.60 and 118.90
- support zone is between 117.25 and 117.40
The daily chart has lower highs and price is mostly below 20EMA (on 1d chart), so I would prefer to short in that range, close but not reverse the position near support and in case price falls below...
I took a short at 118.70, Risk-Reward = 6.5
SL@ 119.10 (-40), TP@ 116.10 (+260)
____________________________________
what if:
a. BOJ does not pressure on Yen
b. ECB gives more uncertainty the next day and stocks tank,
then Yen could sour and USD should fall before Davos
- from technical point of view a pretty easy trade as there is a false breakout over...
Trading idea on 4h chart:
Short USDJPY – looking for best short entry after NFP volatility
- After last Friday’s volatility, which was positive for USD on the first glance, but ended to be negative
for the USDJPY pair, I am looking to get short with the final target at about 116.00-116.20
- I like to rejoin the trend, which is down for me now (on 4h...
look short on short-term,but I will change to "Long" by going higher.
First, there is the fact that broke the push-lows.
Are rising strongly momentum now, but can not be ignored the above facts.
Currently, I judge that have been struck by Resistance Zone.
Points buying on dips for this rising are two blue zones.
if "A-Zone" was cracked , decline would...
THIS IS A FOLLOW UP ON MY PREVIOUS POST. THIS IS MY PROJECTION FOR THIS PAIR FOR THE REST OF THE WEEK. IN MY FIRST POST I FAILED TO MENTION THE STRONG SUPPORT THAT EXIST AT 108.64 WHICH CAN CAUSE A SHORT REVERSAL BACK UP TO OPENING PRICE. KNOWING THIS CAN BE BENEFICIAL IN MANY WAYS. 1. IF YOU ARE ALREADY IN AN OPEN POSITION AND FEAR YOUR PROJECTION OF PRICE WAS...
