Most of the day the Yen/USD traded lower breaking the 200 Moving Average through the day - first time its done this since this ramp up started.
Highlighted in hot pink you can see the points of control notice that most the business was done at lower prices today , but closed higher into the S&P / Nasdaq close.
Divergence remains - still time in this trade,...
Today I am gonna be doing a quick analysis on USDJPY, the price has reverted to an important support level, the buying zone is in the support region and the target is on the next important resistance level.
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here, in usdjpy great shorting opportunity on 15minute timeframe..
1.rejection from 200dma...
2.rising wedge breakout..
3.rejection from resistance area...
always take trade with stoploss........................... thankyou
Because of the nature of the this curve. PRS cannot provide specifics on USDJPY. However if you are willing to hold for 100 days per trade, USDJPY will eventually move to 82.00 in 18 months or less. Entirely doable in 15 months.
Hence this is not a "live testing" trade because the duration is can't qualify as intermediate.
Clearly making LOWER HIGHS AND LOWER LOWS. I have a sell stop at SELL STOP 106.550. A safer trade would be to wait for the break and retest. 1:2 RR 12.5 PIP STOP LOSS 25 PIP TAKE PROFIT. I am personally risking 1.5 %.
Hi, everyone. We have strong bullish potential on usdjpy chart window. X-Volume show more then 40K of involved bears. And i think we can go 109.14 in near future. Levels thanks to X-Lines script (use it for free - link below).
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- Structure: up trend
- Daily Currency strength: weak
- Expectation: long reversal
- P.Action: invert Hummer 1H
Due to the strength of this fall, I would be prepared to take either long or short trades despite the fact there is a long-term bullish trend. A long from 107.85 could work but shorts from 108.21 or 108.54 also look attractive.
Dow Jones FXCM Dollar Index was a measure of the U.S. dollar’s value equally weighted against four of the world’s most liquidly traded currencies:
Euro (EUR), 25% weight
British Pound sterling (GBP), 25% weight
Japanese Yen (JPY), 25% weight
Australian Dollar (AUD), 25% weight
USD has been one of the weakest pairs of the Forex market recently, however, JPY has been even weaker and underperformed USD.
USDJPY has been trading under 108 since April.
The level has acted as resistant multiple times.
It looks like the price has made a massive inverse head and shoulders that just got completed by a break above the horizontal neckline at...