113.000 could be the point of reversal! after breaking previous highs at 111.335, the possibilities of this pair retracing back towards this level of support is likely.
Looking for UJ to continue up from trendline with the US Dollar gaining strength.
As UJ is testing the 111 resistance area. It seems like it can't break it. Overview of the monthly with the kumo twist shown. I'm waiting for it patiently how it reacts to the cloud and my predictions it'll spit it back down to the 100 support level. IF, IF it breaks that support level then the bears will just be in complete domination once its out of that...
A Rising Wedge is Formed on top of daily Uptrend , so We sell with breakout Confirmation
This trade will be valid once price breaks the weekly resistance level at 108.5. If price breaks this zone, it will likely retest this level once before flying up to the higher resistance level at 113. It is better to catch this trade on the retest as it will serve as confirmation, increasing the likelihood of your trade winning. Note, this trade is not valid...
The US dollar has fallen significantly during the day on Friday, continuing the down move that we had started on Thursday after Donald Trump announced a tariff on both steel and aluminum. This has put a lot of fear into the market, which of course has people running towards the Japanese yen. I suspect that most of the reaction in this market will be due to noise...
UJ IS ON THE SOCOND BOUNCE UP GOING OUR WAY FOR THE RETRACE AFTER THAT 300 PIP DROP. EXPECT A 3RD BULLISH PUSH TO OUR RESISTANCE ZONE SHOWN WHERE WE EXPECT A FUTURE TRENDLINE TO BE BUILD.. LETS SEE HOW THIS PLAYS OUT
After such a big drop we need a correction before continuation of our down trend. Therefor I believe we gonna see that correction now. I'll hold my position with a really tight SL for now. First target is the S zone and 38.2 fib if we see a break I'll focus on our second target at 61.8 fib.
I believe UJ will continue to drop until around the 107.339 area before skyrocketing once again...this is just an idea. I see it as a rocky downtrend but it should make it down there. In top of that US politics and US/NK rhetoric have not given 2018 a break! Now let's sit back and see how this plays out.
It is so easy to come up with profligacy or a bogus theories of what triggers dollars up moves : Hurricane Harvey = equals compassion, N. Korea's missiles launching gimmicks = weakness... oil plants evacuations influence = equals oil down - dollar up, Arabs on Holiday = equals oil weakness etc BUT! I wont discuss any theory to back up my chart - my apologies! ...
The price have been in the bullish momentum for a long time,the 4hr TF still maintaining the HH and HL. Trading idea is long until HL taken out. Please feel free to drop your idea
I know many of you are watching UJ when trading gold... There's a very important pattern developing on the UJ UJ chart. After a 7 months consolidation ( downtrend in a down channel) we had a character change. Price didn't turn down immediately in a V shaped form as did before. It sticked to the trendline an started to crawl along it. I think the Bank Of Japan...
Price rejected a resistance level (110.60 aprox) in a 4H timeframe. UJ is doing a bullish movement with low volume, wich could indicates a pullback movement. Price is below MA50 in 1H time frame. Also, this pullback respect 38.2% fibonacci retracement. We should wait for a breakout to open a short position.