Technician

USDJPY: Interpreting Price Action

FX:USDJPY   U.S. Dollar / Japanese Yen
784 1 14
This is a late update as well, its not an actionable trade setup, but intended to be more of price action insight, and educational post on how to interpret price action over the long term to extract short term trade setups.

Details are outlined on chart.

June 6 quick Update: In my latest update for in April             13 I mentioned that the retest of 101.00 major support area could provide a long opportunity, otherwise a break below could be seriously bearish . Indeed price managed to find grounds at that support, forming a hammer candle, and bouncing back higher approaching the descending resistance for the latest consolidation in addition to 103.00 horizontal resistance. So far, the upside is favored, and a break above it clears the way to 104.10 next key resistance.

As usual, i will try to provide short term setups as I encounter them

Good luck, come join me at: https://twitter.com/thefxchannel Thank you :)

Latest trading ideas: https://www.youtube.com/channel/UC02s7uiUQl55HkhHZDM6eUw/videos

Free Telegram Channel: https://t.me/technician_forex_trades

Trading Signals Redefined: https://thefxchannel.com
In process of a 5 wave pattern to 103.5
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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