Samnzimande
Long

USDJPY Haunting Sellers

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
256 views
38
256 6
On Monday Stocks opened positive making the US dollar quite strong, Sellers are quite on the deep end on the US dollar against Yen. Last week there was no hope that the dollar will actually gain strength this week due to the Tariffs and Trade war conspiracies etc... so the question is "Is USD really worth buying at this point"?

Well I'll simply state YES for the short-term traders, going long to 109.117, Stop price at 108.573. To evident to that statement we have the analysis actually showing us that our Fib level 61.8% is really equal to the previous support level highlighted in Yellow and having taking the trend line from the 3rd previous resistance to the same 61.8% zone which is going to be our future resistance if everything goes according to plan.
For Long-Term traders you can definitely wait for the price to retest the highlighted price of 61.8% than waiting for rejection of price which is going to be a confirmation to go Short as far as 107.761 and stop price at 109.583 or even further below. A very simple trade just a matter of patience and trusting your analysis and yourself even.
beaurond_fx beaurond_fx
ignore the SL level
Reply
Samnzimande beaurond_fx
@beaurond_fx, love it
Reply
beaurond_fx Samnzimande
@Samnzimande, shot brother
Reply
AnisonsFX beaurond_fx
@beaurond_fx, We have similar analysis as yours. Seeing a potential drop currently toward the 108.10 area, let's see how it plays out :)
Reply
@AnisonsFX, love it
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out