U.S.Dollar/Japanese Yen is running in microwave 5 of main wave 3 while main wave 3 is an extended wave.
I expect the main wave 3 will be complete at my PRZ(Price Reversal Zone), and then U.S.Dollar/Japanese Yen will go down until the target that I specified.
🔅U.S.Dollar/Japanese Yen Analyze ( USDJPY ) Timeframe 2D⏰
Do not forget to put Stop loss for your...
Hi traders.
USDJPY appears to have been forming a descending triangle on both the 4H and 1H time frames. Since market open today, it has broken out of the structure to the upside but since has now been pulling back.
I believe this was a fakeout. Providing the green trend line is broken on the 30M or 1H time frame cleanly, it would then be time to short UJ to the...
Hi fellow traders.
USDJPY over the past week has been in a strong uptrend.
It appears it may be time to see a correction, slightly towards the downside.
Awaiting testing of the red trend line drawn. Upon this, looking to open a short position and take profit at the 0.382 Fib level. Stops are tight in case this idea is invalidated. RSI (14 period) further...
Please support this idea with LIKE if you find it useful.
Initiate Long.
Entry - 109.227
TP1 - 110.269
TP2 - 110.795
SL - 108.885
Reason: Price was supported by Ichi Cloud. Also we have a local Uptrend (Ascending channel and Behavior of RSI confirms the local bottoms for the price.)
Thank you for reading this idea! Hope it's been useful to you and some of us...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=113.4.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=112.9.
TP4: S2=112.6.
Set the stoploss of these orders at breakout of R2=113.5.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=113.4.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=112.9.
TP4: S2=112.6.
Set the stoploss of these orders at breakout of R2=113.5.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=112.15.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=112.55.
TP4: R2=112.9.
Set the stoploss of these orders at breakout of S2=112.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=112.15.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=112.55.
TP4: R2=112.9.
Set the stoploss of these orders at breakout of S2=112.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=113.35.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=112.8.
TP4: S2=112.45.
Set the stoploss of these orders at breakout of R2=113.55.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
USDJPY M30 chart
As the short-term indicators show decline but the uptrend will continue in the daily terms.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
PS make sure you give me a like, If you LIKE this analysis .... If you like most of my analyzes, FOLLOW me .
