FX:USDJPY   U.S. Dollar / Japanese Yen
59 0 1
Hey guys, just a bigger breakdown on this pair you can see from my previous posts I took profit on this with the nice head and shoulders pattern completed on the lower timeframes however...this pair seems to be a bit untradeable at the moment as it is stuck in this nice range you can see if you zip down to the daily chart ive highlight the range with a white box on this chart.

Until that range breaks there is no possible trade in my opinion and ill most likely trade the range break by itself which ever way it may go

Bullish Idea

You can see we have an Inner and Outer Trendline break , for this pair to remain bullish it would have to take out the July highs of 2007 at 124.000 if it does id expect price to go and reach the target of around 134.000

Bearish Idea

Im probably more leaning towards a bearish idea if im honest we appear to be struggling at the 61.8 fib level of the whole move and still haven't put in a higher high, a break of 116.000 and I believe that will be the downtrend confirmed again with first target of the big move being 102.000

Obviously I most likely wouldn't be holding trades until these bigger targets but that's just to give you an idea of where ill be looking for price to go towards ill be looking at the lower timeframes for some good risk:reward trades around those key areas I mentioned
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