A break below 111.000 we will be looking for further downside and changing our bias. Using simple trendlines we are looking for further bullish pressure, 113.000 targets. Always the potential for risk aversion so will be watching carefully.
The chart shows a possible breakout on USD/JPY, clearly stated by the short volume the market has, and three levels of support being tested 3 times in the past. Just remembering, the more times a key level has been tested in the past, the more accurate it can be. Price has also reached a Swing Low, which shows more evidence of a future strong and definitive...
I think over the coming days we will see USD/JPY carry on pushing higher. As you can see by the chart it is at the top of trend regression and so we should see a small dip as the RSI calms down. The ADX is continuing to show a strong trend and we are just coming out the back of a tea cup pattern. You can see the technical analysis is also pointing towards a Strong...
Tonight we have US retail sales data to be released, with analysts forecasting strong data of 0.3% from last month’s -0.3%. If data comes out as expected or higher, we could see the beginning of some USD strength. However, even with USD strength, I’ll only look for trades with USD strength in USDJPY (bouncing off 106.50) or AUDUSD (buoyed by positive CNY data).
Planning for the BoJ coming up... seeing a stronger USD overnight, we could see the BoJ take the chance to take a slightly more dovish tone, to push the USDJPY higher
Could 107 be the barrier, once broken will bring about 108 and 109 for the USDJPY. Whilst volatility is seen in the USD, it is also slowly gaining strength. Although the BoJ seems to be moving away from its aggressive stimulus plan, forgoing a 2% inflation target, the Yen seems to be bought only on risk-off situations (reserve assets are bought). Therefore, if...
Hi guys, I will buy the pair as soon as it breaks this channel to the upside til next fib level. If you like my ideas please drop a comment or a like :) Cheers Jesse
USDJPY after the hit bottom edge of resistance zone went lower. Now it reach local support level at 113.10. This is previous resistance level and there could be a good buy opportunity. Now we are observing price action and waiting for any demand activity.
What do you guys think ? Price may bounce off this support and go back up to 113.900 - 144.000. Any objections/suggestions are welcomed.
The pair rejected from fibo 61.8% on the daily time frame and broke the descending trend line on 4H time frame you can buy now and place your Stop Loss under 110.50 and your Take Profit @ 114
USDJPY has formed a bullish engulfing on the daily timeframe. Price failed to make lower lows. SL set below previous lows, TP set at previous highs.
Hey guys , - Weekly trend : Perfect support (Red) - 2 H4 trend : Good support (black) - 23.6 fib - Support zone - RSI to be oversold Close before NFP
Hi traders. Today I added to my buy position on the intraday dip. I saw price approaching s1 at 113.63 quickly and anticipated the stop run reversal. I placed my buy order just ahead of s1 and will be holding this long throughout the rest of the day and tomorrow. I would like to see a push up into the key psychological resistance level of 115, but let's see how...
Hello traders. USDJPY is set to hit 115 by Q2, but by the looks of things this may very happen sooner rather than later. As such, dips will be viewed as value buying opportunities until upside targets are hit or proven otherwise. I hope this information is useful to both short-term and long-term traders in determining major market direction. Enjoy and remember...