With the impending US economic bust that is about to happen when the Dollar bursts (based upon the DXY and US30), I'm bearish on UJ for this week. I see it continuing in an Elliot wave pattern to retest its low point from early last week. I want to see if price respects that low point or breaks below it for the continuation.
Entry - 109.75 Target - 108.19 Stop-loss - 110.53 Short position at the daily 30EMA (green line) and an area of previous S&R (light blue line). Following the 30EMA and 200MA crossover and breakdown at the end of December, USDJPY formed a bear flag. The potential problem here is that long monthly wick from the 104.7 level, but I'm looking for a retest of the 108.1...
Expecting a retest of resistance to see a further push down to break prior support and create a new low.
Hey folks, Our last week trade closed at breakeven, here is the best re-entry point that we can get Watch the full market overview on my youtube channel www.youtube.com
SHould be an easy and smooth trade
Check my previous analysis on UJ in which I recommended short entries at the retest of a resistance area. Also, to trade the breakout of the trendline. If you are not in this trade, be patient for a pullback should give you an entry opportunity within the range i illustrate in orange. Hold this position toward the end of the year. Best luck! Follow my...
USDJPY broken T L Use counter trend line for sell. On chart we see 2 levels of Take profits. GOOD LUCK!)
Shorting USDJPY . First T/P 111.910 - cover your profit.
UJ Has been bullish the past week and failed to break and hold above resistance at 112.2. For that reason I am expecting another dip down before it continues upwards. I have another sell limit at 112.3-4ish. Not playing sell for too long unless impulsive move out of zone. If It continues up I expect it to reach 113 before finding resitance
FX:USDJPY 1D - Overall trend is still uptrend. However, price formed a low last week and break the support @ 112 BRN zone. (SBR) Price might turn to downtrend based on this pattern. However, based on price movement behaviors... usually price will retrace back to 112 then only continue it's downward movement. On the other hand, if currently is the retracement...
Sellers Exhaustion Consolidating on 30min Support level
We might looking for short if the Daily candle closing with a bear candle. This make the confirmation of the double top formation which might looking for a TP at 109.017 and SL at 101.298. Please wait for the confirmation. Confirmation is everything for a dedicated traders! Trade at your own risk *