FxWirePro

Winning trades in USD/JPY- “Bearish Engulfing” still lures bears

FX:USDJPY   U.S. Dollar / Japanese Yen
196 0 7
Earlier USD/JPY             TARGETS ACHIEVED, Book partial profits and stay focused to enter better entry points for short near month futures again.

Refer below link for our previous write up on this prediction:



For now, Broken out major supports at 111 & 107.674 levels with leading oscillators signal bearish momentum, current prices well below 7DMA.

7DMA crosses below 21DMA, Wait for rallies to short support below 107.674.

We don’t think we’ve to explicitly specify “Major trend is bearish” as all technical indicators are bearish bias.

RSI evidences bearish convergence to the falling prices, while no traces of recovery from stochastic curve as well.

MACD also confirms the long term downtrend continuation.

So, we reiterate absolutely there is no space for fresh long build ups, view every rallies for best entry levels for shorts. While, on an intraday trading perspective, better to use option tunnels.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out