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...
Trend trading would indicate via EMAs that we should see some lower levels. Moreover, short-term resistance and short-term support are form a symmetrical triangle and given the steep degree of the angles of the wedge, it seems as though some dramatic fundamentals would be required to force this pattern into either an upside or downside follow through of the wedge....
We've seen a huge risk-off shift in sentiment over the past few trading days stemming back from last Friday that saw many safe haven assets like the Japanese yen strengthen. There's many reasons why this is including ongoing concerns of a global growth slowdown, signals of recession such as the yield curve inversion, and thematic concerns lurking in the background...
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During Friday’s trading session, the 100-hour simple moving average supported the rate to end the trading session at 111.40. On Monday morning, the rate was trading between the 55-hour and the 100-hour simple moving averages at the 111.51 mark. It is expected, that the currency exchange rate will be trading sideways to end the trading session at the 111.60...
Looking to sell USD/JPY at 112.498 (stop at 112.550)
During Monday’s trading session, the 55-hour simple moving average supported the rate to end the trading session at 111.80. On Tuesday morning, the currency exchange rate was located at the 111.93 mark. In regards to the near-term future, most likely, the 55-hour simple moving average will continue to support the US Dollar to push the rate to trade sideways at...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=110.9. But the short term forecast is range bound, so we expect to reach the following targets: TP3: S1=110.3. TP4: S2=110.1. Set the stoploss of these orders at breakout of R2=111.1. 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=110.1. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=110.65. TP4: R2=110.8. Set the stoploss of these orders at breakout of S2=109.9. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of...
Use your best judgement. Don't copy my entries and stops, they change as market the changes. In my posts, I do try to give the most precision as I possibly can though. There is a lot going on here. The USDJPY is looking very strong from a bearish perspective. We have a potential 30-Day Bullish Bat in development. But inside of that we are in possibly wave 4...
The US Dollar (USD) weakened on Friday on reports a short-term funding bill will re-open the US government for several weeks (at least). Based on the 15min Chart USDJPY may have reached its support (as highlighted on the char), paving the way for corrective gains. The potential target as well as the possible location of the protective stop are marked on the chart.
During Monday morning hours, the currency exchange rate was resisted by the 200-hour simple moving average to stay at the 108.15 mark. In regards to the near-term future, most likely, the rate will be trading sideways between the monthly S1 at 108.17 and the weekly S1 at 107.86. The resistance levels of the monthly S1 and the 55-hour simple moving average will...
USD/JPY labeled in a Minor degree ABC (red) sequence, with Minor A (red) and Minor B (red) finalized, showing a Bearish Cypher in Minor B (red). Minor C (red) already started, with Minute i (red) and Minute ii (red) finalized. Expecting a Bearish Sell-off in Minute iii (red) of Minor C (red), with an extension and a sustained down-trend.
Is USDJPY diving back down to 112.600 area to grab some liquidity, only to return back North again/ Looking left at the chart on a 4hr this can be seen many times. Busy day today & tomorrow fundamental wise, let's see if this 112.600 holds, could be a possibility of a break down to 112.450 for a stop hunt before positive news takes affect...
Rejection of resistance level on 4hr over all showing bearish momentum short term.
USDJPY is rolling over in line with 114.5 long term resistance holding