piphunters
Short

USDJPY: Opportunities not to be missed!

FX:USDJPY   U.S. Dollar/Japanese Yen
3968 54 86
9 months ago
The pair is currently hovering around the trend line shown in the chart, the correction to the upside has been sharp and looks limited, I believe we will be resuming the downside from here and a break below the trend line shown in the chart would would be a nice opportunity to go short.

In the case of an unlikely break to the upside however I would be looking to buy and a possible reversal of the down trend.
9 months ago
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Disclaimer: The trade ideas posted here are only my view of the respective market and is intended purely for guidance/informative purpose only and should not be taken as a trade call.
9 months ago
Comment:
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9 months ago
Comment: monthly picture we have currently
9 months ago
Comment:
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9 months ago
Comment: now a possible scenario for USDJPY
9 months ago
Comment:
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9 months ago
Comment: possible scenario updated earlier looks to be on play now
9 months ago
Comment:
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9 months ago
Comment: update: long opportunity
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legacyfighter
9 months ago
Usually I don't like to use fundamental analysis, but due to negative interest rates, a continuation to the upside shouldnt make it above the 118 resistance level. I personally have stacked some short orders up to that level. With the speed at which the JPY pairs move, i always take small positions in them
Reply
piphunters legacyfighter
9 months ago
agree any deep corrections may be limited to 118 area
+3 Reply
jhakas
9 months ago
pullback towards 112.3 is likely.. but I will take it as buy... with risk of 160 pips.. because it has fallen sharp 1000 pips in short time.... and will correct higher with stocks.. my target will be 116.. neckline of head and shoulder and if that taken out then 118.. and I expect from there we are going to see another leg down..
Reply
piphunters jhakas
9 months ago
while I agree with you that a deeper correction is due, historically in the previous rally to 125 we have seen 2000 pips or so without much of a correction, I am looking the possibility of hitting 110 and then later even 100 area
+2 Reply
legacyfighter piphunters
9 months ago
Also, its important to note, that on the way up, there were very few pullbacks. Price ran from 105-118 in one almost completely continuous run without pullbacks. The fall could be just as steady.
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piphunters legacyfighter
9 months ago
yes, let's see!
+2 Reply
jhakas piphunters
9 months ago
for long run.. we are now heading down.. but if 111 holds.. i am expecting 116 and 118... xp500 again created double bottom.. so keep an eye on it.
+1 Reply
piphunters jhakas
9 months ago
by Tuesday we should get confirmation if not on Monday
+1 Reply
jhakas piphunters
9 months ago
from past 4 to 6 weeks.. jpy gets weak first after market open.. and uj and uj crosses go for rise... and then pullback.. so we will get good idea after market open... if uj pairs go for dip first then that will be a very good sign to me for reversal... and i will go for long again on uj and gj.. i have already shared my deal to buy uj from 112.1 on thursday for tp of 116.. with sl. 110.8..

If anyhow uj goes for rise first and then pullback in that case too.. i will be looking for price action and impt. figures.. as we got back to back to spikes.. one was on friday from 111 and then second spike was on friday after london open from 112.08 towards 112.75... so there are certainly some bull action..
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piphunters jhakas
9 months ago
I see...
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jhakas piphunters
9 months ago
now here is my short on uj with 23 pips sl.

USD/JPY Sell Setup with SL. 113.83
+1 Reply
piphunters jhakas
9 months ago
very brave SL, good luck mate, it's turning
+2 Reply
jhakas piphunters
9 months ago
it has yet to fill gap and todays pivot is close to 112.8... small sl. is good in case of any spikes :)
+1 Reply
Fxprotrader PRO
9 months ago
Very good analysis mate.. Well done..!
+1 Reply
piphunters Fxprotrader
9 months ago
thanks!
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nLead PRO
9 months ago
Hello. I'm not sure, but maybe the 5 wave pattern has already completed and we're about to see a three wave correction. Just wanted to leave my analysis here, tell me your opinion.
snapshot
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piphunters nLead
9 months ago
as of now I am favoring downside, will get confirmation early next week and take positions accordingly, if it is to break above the trend line, which right now I doubt, you might have a case there!
+2 Reply
nLead PRO piphunters
9 months ago
Well, in fact I agree your analysis too! Just started counting waves and thought it could be another possibility.
+1 Reply
piphunters nLead
9 months ago
let's see!
+1 Reply
HumbleTraders
9 months ago
Agree. This goes pretty much in line with my long term USDJPY analysis. http://humbletraders.com/how-commitment-of-traders-report-predicted-usdjpy-decline/
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piphunters HumbleTraders
9 months ago
nice, thanks!
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HumbleTraders piphunters
9 months ago
All the way to 105 I think!
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piphunters HumbleTraders
9 months ago
yes, it's possible!
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rajenderam40
9 months ago
Very good analysis......thanx........
+1 Reply
piphunters rajenderam40
9 months ago
thanks mate
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GoodLuckbabe
9 months ago
very nice spot brother yes we have a very sharp impulse here on this pair and i am little cautious on small gap which we can see on weekly and monthly and if it breaks down then we are in bearish trend
+1 Reply
piphunters GoodLuckbabe
9 months ago
agree, thanks
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johan.verm
9 months ago
Have a nice tradingweek.... :-)
+1 Reply
piphunters johan.verm
9 months ago
you too mate! wish you the best
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X5
9 months ago
I think is going to retest 111.00 before starting an uptrend (bearish divergences observed on H1 and H4 charts).
+1 Reply
piphunters X5
9 months ago
Looking at the possibilities of it going below 111, gotta wait and see
+1 Reply
X5 piphunters
9 months ago
Definitely... for now, I agree with you to go short, probably around 115 or 116
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muneeshclt
9 months ago
thanks piphunter
+1 Reply
Lanmar PRO
9 months ago
Think 117.60's is the highest we go before going lower again. At best 115.xx. Going to likely be a great short trade
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mskv21 PRO
9 months ago
It hasn't touched the bottom of the channel for a while, looks like (RSI, Williams) it might head south some time soon. Whether for a breakout or not we are yet to find out.
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GoodLuckbabe
9 months ago
game changed brother good luck for next time
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piphunters GoodLuckbabe
9 months ago
yes indeed, in fact never went short because the short setup did not come, now waiting to see how it retreats before taking any positions
+1 Reply
GoodLuckbabe piphunters
9 months ago
yes you are wright short setup did not come and Good Luck for next setup i hope we will get next shoot very soon
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piphunters GoodLuckbabe
9 months ago
please check the chart I updated now, looks more likely now
+1 Reply
GoodLuckbabe piphunters
9 months ago
yes brother i agree with you this is very possible scenario
+1 Reply
piphunters GoodLuckbabe
9 months ago
can short the move no problems I believe
+1 Reply
GoodLuckbabe piphunters
9 months ago
yes very high probability short trade Good luck brother
+1 Reply
GoodLuckbabe GoodLuckbabe
9 months ago
USDJPY: Opportunities not to be missed!
this is my take
+1 Reply
GoodLuckbabe GoodLuckbabe
9 months ago
snapshot
sorry for mistake actually this is my take i am looking for sideways for shorter period of time
+1 Reply
piphunters GoodLuckbabe
9 months ago
okay! good luck
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GoodLuckbabe piphunters
9 months ago
thanks brother
+1 Reply
SniperFX PRO
9 months ago
Looks good from a technical point of view piphunters
+1 Reply
piphunters SniperFX
9 months ago
thanks mate, may or may not be that deep but it sure will have to come!
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SniperFX PRO piphunters
9 months ago
we will see how it goes - PRICE is always correct.....
+1 Reply
piphunters SniperFX
9 months ago
agree
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JLJ002500
9 months ago
The way I'm playing it.

snapshot
+1 Reply
piphunters JLJ002500
9 months ago
good luck mate
+1 Reply
RamaDeda
9 months ago
I think that we will see something like this in the short term
Usd/Jpy - Short time long
Reply
piphunters RamaDeda
9 months ago
nice
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