Dollar has started to show some strength against Yen. The first uptrend’s price action, after the accumulation, had an inverse ratio with volume. This time Bulls need to step in, in order to breakout the Range. If a pullback happens to Range Low, our entry occurs.
Please let me know if you have any...
In the hourly time frame we see price pushed up to an important level of resistance and then reject below breaking out of its respected uptrend. The Market is showing us that price can begin consolidating at the key swap level price is at right now and this breakout could be an exhaustion for the bulls before they come back in with another impulsive push up...
Recently the Dollar/Yen had activity near the 107.200 zone.
Breaking the last bearish structure with this pattern, its time to wait for a pullback to the nearest support (blue rectangle and continue bullish to 110.600.
USDJPY labeled within a Complex Bearish Triple Three pattern in Intermediate (B) (blue).
- Minor Z (purple) - Regular Flat
- Minute a (red) - Three Swings sequence
- Minute b (red) - Double Three
Minor Z (purple) is expected to resume for the down-trend with Minute c (red), in an impulsive manner.
Looking at the bigger picture on USDJPY, I am expecting to see a rally over the coming months which should see price reach 118 comfortably and possibly as high as 120. From that point I will be waiting for a reversal to confirm where there will be a significant move to the downside being the second impulse after the correction is complete.
Price broke off a bullish trend channel last week on May 23th. Since then price has been trading in a bearish channel. Now price is testing final resistance level again.Which gives us traders a good opportunity to short this pair with limited risk. In addition, with the global equity market nearing correction territory, it could give the Yen a...
Been looking at this downtrend, once price hits that trendline, I'm selling as long as price respects the trendline.
If you are part of my free telegram channel, you would have seen that I have been anticipating the sell at 112 area (black arrow pointing down). However, we had a 39 pip draw down in which small accounts may have been stopped out (fakeout). As you...
USD/JPY is in a flat correction where it has completed the leg A and B, now to finish the remaining C leg, it has to come down in 5 waves but after then it will either reverse to the downside or continue the bullish trend to the upside
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=111.7.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=111.8.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
The conversation on the Japanese yen is as much about the US economy as much as it is about the Japanese economy. This is mainly due to the fact that the Japanese yen acts as a safe haven asset during times of downward volatility, even if that volatility stems from Japan such as the natural and nuclear disasters that rocked the archipelago nation in 2011....
The US dollar has rallied significantly during the trading day on Thursday this week, reaching towards the ¥111.50 price level. Resistance range from this level goes all the way to the ¥112 meaning it will be very interesting to see whether or not the market can break out above that 50 pip range. If in fact it does, that could send this market significantly, at...
While the Japanese yen had been trading on an upward short-term support line, last week it broke this line. Interestingly enough though, it found another level of support similar to the previous level of support, but just with a bit of a less steep slope. Clearly there is much evidence to suggest that the Japanese yen should be taking a nosedive. Compelling...
USDJPY has a number of trends going against it to force price action downwards. Technicals and fundamentals are not on the dollar's side against the yen. Traders can see a number of oscillators and MAs suggesting USDJPY is overbought and due for a reversal. Moreover and probably more impactful are the fundamentals of the global economy which suggest major growth...