Olu
Short

UsdJpy: More Downside Ahead?

FX:USDJPY   U.S. Dollar/Japanese Yen
425 13 10
11 months ago
Comments on the chart. This idea is based on a trendline break and a bearish MACD
11 months ago
Comment: Trade idea is still intact. Pair attempted to move up but failed. Risk aversion in play today in the markets which is generally good for the JPY
11 months ago
Comment: Idea still in play as price has not closed above the trend liine
11 months ago
Comment: Boom!!!
GoodLuckbabe
11 months ago
my friend you are a very experienced guy i think we have not broken the bullish trend channel and the price is still playing in the channel and we may see bulls back in coming weeks this is a just minor change in the structure and the broken line is not a trend line here is the example bro
snapshot
Reply
Olu GoodLuckbabe
11 months ago
I hear you Imran. Drawing trendlines has always been subjective to traders. Your scenario is very possible. Hence the reason why I have stops on my trades. Nobody knows what the markets will do and as technicians we just try to interpret the markets as we go along.I have tight stops if I am wrong. And I have been wrong many times before. What is unforgivable is not sticking to the trade idea.
Reply
GoodLuckbabe Olu
11 months ago
thats wright i am fully agree with you sir no one can predict this market %100 into their way every time but what we can do just minimize our mistakes. i hope price will go into your way good luck sir.
Reply
GoodLuckbabe GoodLuckbabe
11 months ago
PRICE IS BREAKING THE DESCENDING CHANNEL FOR UP
Reply
GoodLuckbabe GoodLuckbabe
11 months ago
these are my thoughts sir
Reply
GoodLuckbabe GoodLuckbabe
11 months ago
snapshot
and the bigger picture
Reply
Olu GoodLuckbabe
11 months ago
Hi Imran
Your EW count idea is very possible. I also believe jpy will get weaker long term. However I believee this will be after a bout of strength. A lot hinges on the stock market. If risk aversion enters he market then tock market will fall and people will run into jpy for safety. At the moment the market is poised for a fall. We will see how this plays out. I am not married to to the idea of only a fall will happen. I am a trader and will go with wherever the market is going but it has to first negate my current stance.
Reply
GoodLuckbabe Olu
10 months ago
snapshot
yes Olu sir what do you think now this is what i was expecting at that time price will not close below the pin bar cause pin bars shows the strength of particular trend i hope you made some pips when there was bearish trend now let see will we see break or one more down move one more down move is possible but the impulse is very sharp it may break on this impulse.
Reply
GoodLuckbabe GoodLuckbabe
10 months ago
BUYING THE BREAK OUT IS GOOD IDEA
Reply
Olu GoodLuckbabe
10 months ago
Hi Imran. I have no choice but to get bullish now. I have made some $ being bearish usdjpy. So now the true trend is coming back. So I think we need to position long looking for 135 area.
Reply
Olu Olu
10 months ago
By the way Imran all this is true if the stock market continues to go up. If it tanks imho negative interest rates or not jpy will get stronger
Reply
GoodLuckbabe Olu
10 months ago
thats true now we need to see sharpness if it remains sharp then it will break up and if it lose then we will see one more down move which is possible i hope we will break this time let see whats there this time thanks for replying
Reply
jhakas GoodLuckbabe
10 months ago
If you check then we have broken trendline support close to 122 on weekly tf. and uj has yet to kiss it.. i expect little pullback under 121 and then up again.. cuz we have solid fundamentals that are backing uj for upside.. and uj has once again bounced from 116 level.. so a move to 124 in coming weeks is for sure..

UJ Buy Setup for 122 and 124 TP. Long Term
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out