TradingView
MEX_Exchange
Oct 20, 2017 2:16 AM

USDJPY on major support, prepare to buy for a bounce Long

U.S. Dollar/Japanese YenFXCM

Description

Buy above 112.44. Stop loss at 111.56. Take profit at 113.53.
Reason for the trading strategy (technically):
Price is seeing major support at 112.44 (Multiple Fibonacci retracements, horizontal overlap support) and we expect to see a strong bounce above this level to push price up to at least 113.53 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 1.8% where we expect a corresponding bounce from.

Comment

we actually called this trade right before the major bounce. you can see it here : mexexchange.com/market-analysis/usdjpy-major-support-prepare-buy-bounce/

Anyway, we're creating an exclusive live trading room for tradingview traders so you get all the deeper insights into our trades and also lower time frame trading opportunities. PM me if you're interested!
Comments
coker.sergio1
Buen trabajo amigo
altan.cankaya.9
so what is next guys? on weekend there will be election and 99 percent Abe will win. So can we expect "buy the rumor sell the fact" effect on USDJPY?
MEX_Exchange
@AlTan.cankaya.9, from a technical perspective, i am starting to see some resistance on USDJPY. Will need to do a proper analysis to figure out what to do next :)
Hellofox2004
@MEX_Exchange,

Great call sir..thanks
Hellofox2004
@MEX_Exchange,

Please post for your nx week analisis sir...thank you so much...good week end..
Tau10
Thank you so much
hmanzman
Correct!!!
Vimalk
Great call
jecizahatusoi
thank you good sir, keep up the good analysis...
zifusxiu
the master has spoken once again. thanks MEX_Exchange!
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