As avid participants in the forex market, we must remain vigilant and proactive in monitoring this situation, as it may have significant implications for our trading strategies and overall market stability.
The USDJPY exchange rate has experienced a persistent upward trend in recent weeks, primarily driven by the yen's continuous depreciation. This trend can...
Quick update for you on this position after getting the entry signal on Friday and the intial 200 pip pop were we had closed 50% of the position and moved the STOP to entry price (which nearly got hit yesterday).
You can now see its moving nicely towards the 139 area I talked about in Friday's post the PMI numbers helping price go above 137 today I have now...
I actually have two possibilities with regards to the imbalance we have there (blue square)... Some how that area needs to be balanced. This is my first sell bias. I will look into more as price continues to move (Especially after breaking out of that correction). I have a strong believe that NFP is going to be negative tomorrow. But we will see.
after touching the upper trendline in higher time frame, At15 min time frame, price is consolidating in a triangle.
gonna enter If the triangle breaks down on the downside.
and gonna target the support.
If it breaks the triangle at the upside, it might touch the upper trendline and
continue consolidate near the upper trendline then a breakout.
Evening Traders,
Today’s Analysis – USDJPY – Impulse move into daily support with an oversold bounce recovery. A swing low failure in the RSI will show strength, immediate target will then be range resistance.
Points to consider,
- Trend oversold bounce
- Range support retest
- Resistance confluence (200&21 MA, Range Mid-Point)
- RSI below 50...
-Price found a nice ressistance at a major lvl of 110.00 and failed to maintain above
-pattern in play is H&SH
-we wait for a break of neckline and retest and look for a proper Price Action for a good entry in H1 & 15M TF
I use Market Profile and Price Action for my analysis.
Please read the basic rules for trading my intraday levels (linked to this idea)
*This is not any sort of trading recommendation. Trade at you own risk
![USDJPY: [TRADE CLOSED] Position Went As Expected +340 Pips](https://s3.tradingview.com/s/sfYRxvtn_mid.png "[TRADE CLOSED] Position Went As Expected +340 Pips")
