USDJPY: No brainer buy

FX:USDJPY   U.S. Dollar / Japanese Yen
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USDJPY testing the vixfix spike support, where smart money drove price up after a panic drop .
Rgmov is in an uptrend, this might be a large rally!
Buying here, stop at the downtrend signal target, matches 1 atr nicely.
Props to Nick Coulby for showing me the setup.
Good luck!
USDJPY cut through the smart money vix spike support...It's below both yearly and quarterly EMAs and it seems like it won't recover from here.
GBPJPY is the same, we might be better off selling any rally.
USDJPY sitting at a perfect monthly buy level.
Not taking it yet, but you could go long with a stop at 119.327, and aim for a retest of 124.458. I think it'll go even higher though.
Situation changed:

Stop hit.
We need to wait to see a daily high taken out to buy, or wait for time at mode expiration which is the 25th. We have options expirations and big news tomorrow. Let's wait.
moneymaking IvanLabrie
Even the cypher is invalidated by the market :(
IvanLabrie moneymaking
Yes, fundamentals usually change technical patterns.
I'm watching, for now the safest trade seems to be to short gold on a retracement. It already fell, and didn't invalidate the monthly setup (1168.63 high
,stop was 1171.89). I didn't take it but I'll wait for a retracement and an hourly setup, it's more or less confirmed.
Monthly target remains at 913.

China data helped reach the bearish time at mode target.
Let's monitor it, stop technically not hit.
BULLISH CYPHER PATTERN completed on 4 hour with ABCD pattern on 60 mins:

+1 Reply

2 days left, options expiration/lockout next.
IvanLabrie IvanLabrie
This last image has the correct EMA settings...price above 66 period EMA. (1 quarter)
FullTimeTrader IvanLabrie
Thanks for the information,i will be prepared to close my short positions and look for longs depending on price action. Regards.
+1 Reply