After breaking out of the Weekly bear channel, we saw a pop up of 300 pips (c.100.8-104.0), and noticed a Bull Continuation Flag building up over the days. Deep Take Profit Point lies at 107.8, with the pole being the same length as seen in the charts. I am looking to Long USDJPY 0.17% till at least 75% of the pole's length, which TP lying slightly above 106.5....
Strong bullish candle breakout. It hit the .618 twice so I believe it will go down and retest so you can sell and make a few quick pips. Then if it closes above the purple trend line it will be a successful retest and should go up to the 104 area.
Over the past week I have noticed a strong resistance in the 104.3-104.5 area. A support in the 102.8 area. Today 2 different breakouts happened with a very good retest. I also did Fibs retracement and it shows that it has been consolidating at the 0.50 but now it is starting to pull away. I do not have any other indication that this will be bearish please comment...
downward correction. the price so far has remained upward so if we see the daily chart the price seems to continue this trend which could confirm that on the daily chart the trend continued upward to reach the next resistance which is the 104.91 if you break that resistance will likely see the pair in 105 or even level off as 105.60 but if we see the price...
USDJPY weekly analysis 17 october 2016, long position . Long position : 102.03 Stop loss : 100.66 (137 pips) Take profit : 106.45 (442pips) R/r Ratio = 1 : 3.22
Rising wedge, a breakout could slam UJ down quite abit. Pay attention, happy trading!
Hmmm...has this pair reached the wine cellar already? Dunno. Currently sideways, i see no opportunity other then shorting a pullback. Let's let it do it's thing - there are waiting other good and clear opportunities. P!
Last nights breakout had 4 retests I made 40 pips.I was able to draw new trend lines. From what it looks to me if it breaks the bottom trend line then it could be going down to complete the double top. If it stays between the 2 trend lines it looks like a triangle breakout. So just wait for a retest and buy or sell.
104 Whole being rejected. RSI way overbought. Short sell for 100-200 Pips
USDJPY has been in south range scenario over the most recent couple of months as it struggled with going underneath the equality level ( parity level:) The USDJPY has pushed above trend line resistance just yesterday @ 102.0 level which equals to more bullish possibility. Hang on tight 'cos higher we go!
As the chart shows, we can see that a strong Daily trend line has been broken today which confluences with the Monthly Pivot and various Monthly S/R. I would expect price to correct itself down to an area near the Pivot and the TL for a simple re-test. We are seeing a lot of strength in the USD and a lot of effort by the BoJ done to weaken the Yen (Let's cut them...
the pair uj for a next hour go down to the support son and then bounce in this zone for a correction and the price go up to the high levels in the last chart is the same idea the price have take the next support and the bounce to uptrend this form in this chart give us a more security for think in the entry long just when the price touch this support zone...
Look forward for bullish upside to 2016yr downtrend line at least.
UJ still holding this descending triangle, but a breakout is imminent. Conveniently, the historical S/R level represented by the dotted purple line represents flawless confluence with the .618 fibonacci retracement. Additionally, a breakout to the downside would coincide with a breakout of the current daily rising channel on DXY.