We have completed a 5 wave move up with a LTF wave down. The HTF is for more up but there is an opportunity to grap some pips here. If price pulls back to .618 I will take the short to retest the pivot low to the 11.8 extension. The unfilled gap is of concern as it has had very little penetration and may be a strong support level. Watch for a break of the gap and...
This UJ downtrend is noticeable from not only news predictions, but frequencies in long term trend lines also show UJ for the sell. A retracement pattern will be seen for the remainder of the week into the weekend.
I dont think this is an unrealistic scenario. RS not oversold Divergence in play, but a strong uptrend. MA's cross for a downtrend but previous resistance holds. Short scenario arrows painted in red.
1 thing for sure both of em gonna be good moves... gut feeling for longs but on the break of support most def gonna ride this one out till 1.618 :)
If the channel holds and the bb%-rsi break the trendline possible long - good RR If it breaks tries to go back in and rejected look for shorting opportunities
USDJPY has consolidated in a wedge. Divergence is spotted on both MACD and RSI indicators. A break out of the wedge is due. Price is at support level. A long is recommend at support level or after price breaks out of the wedge. Trade plan: - Buy limit @105.50 - Stop loss @105.00 - Take profit @108.00 Stay Tuned.
UJ is still riding south - I am short till 104.174 -
This pattern shows a gaining support of an uptrend for UJ. After a long drop, its finally hit resistance at 106.5 and has been rising ever since, as shown by this 4h chart.
In the first 2 hours of trading UJ managed to carve 30 pips lower to 106.3 but since then UJ has edged higher to 106.8 highs (atm 106.7). Whether we will hit the target at 105. im not sure, the starting data has been mixed. Whilst we ticked lower 40 pips which was a good sign, we quickly pulled back all of them and $yen is now trading 50 pips up from the lows -...
$Yen dropped 150 pips following the $ employment report and I for one am confused... I had assumed JPY had been acting as a Risk-Off function against the FED hike e,g, $yen had been falling to these levels as the fed hiking risk caused safety flows into JPY... turns out this may not be the case. The market has absorbed the emp report at dovish, UJ shedding 150...
Despite the bullish pressure from the beginning of the week, there has been no H4 Close above the 150-Week SMA. Continued failure at this point and price will likely be pushed back down to 110.600 Pivot / Previous Resistance / 50% Fib of the Wave A-B on Chart (Wave labels are arbitrary in this case). Strategy: Wait and See approach for now. A H4 Close...
It's a Fantabulous Friday for UJ - taking it to the next level - here comes 111 ;) (111 will should hit within the next 2 hours. Happy weekend y'all