VasilyPonomarev
Long

USDJPY: Update and Bullish Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen

good morning, traders!

checking daily timeframe on USDJPY this morning
I believe that the pair has the potential to proceed higher.
In my view, bullish tendency will remain at least until 110.0 level - next level of resistance.

Follow the market within the rising wedge pattern and wait for a breakout,
it will help to identify an early shift in the sentiment of the market participants.
✅My Twitter: https://twitter.com/VasilyTrader
✅FREE Telegram https://t.me/VasilyTrading (Text me for VIP private group)
✅Your personal trading coach. Contact me for one-on-one online trading sessions.
Don't u think it is a fake breakout of the 109.32 and it will soon break the triangle to the downside?
Reply
VasilyPonomarev AhmedOsama2020
@AhmedOsama2020, hey Amed, I believe that before a bearish impulse we gonna see a "W" formation on 1h + divergence!
but all in all, chances are high that we will see a bearish movement from current levels!
Reply
Spot on with what I have brother. Also, there is a long term down trendline on the daily I'm watching, but does come in roughly to your target. I'd share a chart, but have it on another platform atm. Solid bearish divergence as well. It struggled a bit to close above the 109.3 resistance which was a triple top coming into today. Hit 109.48 which literally kissed the top of the upper trendline of the wedge and I missed making a play off that today. All in all a great opportunity trade here. Cheers man
Reply
@Dchuel, hey
I think you are talking about this

thank you for your thoughts!
Reply
Dchuel VasilyPonomarev
@VasilyPonomarev, I actually drew it starting from the 10/5/18 candle on down, captures every reaction since then. Not dismissing what you shared though as it does go back further. This just seems to capture the most recent reaction points from 10/18 imo. Thanks man
Reply
Dchuel Dchuel
Changes the slope a bit
Reply
@Dchuel, oh yes, I got what you are talking about! yes yes!
good eye my friend!
Reply
Share your ideas on USDJPY here!
Reply
harry3033 VasilyPonomarev
@VasilyPonomarev,

I'm I too late to take this? Where would you put the SL please
Reply
@harry3033, hey, Harry! For now, I don't have any active trade on this pair.
It is just a technical analysis of a daily chart with a potential scenario.
it just helps in future trade executions on this pair :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out