USDJPY is approaching our first resistance at 113.35 (Horizontal overlap resistance, 61.8% fibonacci extension, 23.6%, 50% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 112.66 (100% fibonacci extension, 61.8% fibonacci retracement).
Stochastic (34,5,3) is also approaching resistance and we might ...
From a macro perspective, the EUR/USD and USD/JPY in many respects are inversely analogous in outlook. Despite the screaming bullish outside day, the higher the pair goes, the more justified it its to engage in sell-side action for an eventual turnaround in fortunes (lots of patience needed at times). Both, the risk-weighted index (in orange) and the US vs JP ...
The Breakout Opportunities system has just bought USDJPY at 113.02. The system recommends entering this trade at any price between 112.824 and 113.151. The signal was issued because the USDJPY has broken its 24-hour high while our Speculative Sentiment Index was at -1.236, suggesting that the USDJPY may have further to rise. A stop loss has been set at the 24-hour ...
While price is trading within the bearish channel, a good opportunity to look for a short trade around 113.87 area where the completion of a shark pattern is.
We are projecting price to move lower towards 112.10 to complete the 3-wave structure for a larger up move.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you ...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=112.85.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=113.35.
TP4: R2=113.65.
Set the stoploss of these orders at breakout of S2=112.75.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
At this point USDJPY is at the Resistance level of 113.200, if it will break and close above the Resistance level we could see a raise to 113.650. If USD/JPY can't break the Resistance level we could see a drop to the Support level of 112.600.
Goodluck trading and follow me for more of my analysis!
Bias is down, street forecasters calling for a lower USDJPY for next year based on lower rate hike expectation, slower US growth due to decrease tax effects. US net positioning is highest in two years in CFTC, downside could accelerate
should the sentiment change. Japan is also the net creditor of the world and should the returns else where (emerging markets, ...
technical entry after retrace
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. ...
D1 - Price is currently moving higher from the bottom of the channel.
H4 - Two false breaks, bullish divergence and higher highs.
We may now look for pullbacks to happen towards the critical zone.
Once the pullback completes itself, we may then start looking for buys with more bullish evidences.
Looking like a strong buy for USDJPY on H1
Downtrend structure was recently broken, and the market broke past the strong trendline that the market had been ranging in for a while.
Blue ema is over Red SMA on all lower timeframes, confirming bullish trend.
*Read all my confirmations in the text box**
**Expect market to reach R1 pivot, or to break it**
On the longer-term degree, price is nearing the end of Wave B before the large wave C higher takes over.
In the short-term the wave D leg looks for a final move up to complete, as long as the 111.80-112 level holds amongst this Theresa May nonsense. A break and we're looking at wave E already in progress as last leg of the triangle. An important day or two ahead ...
As per fundamental basis key events like US CPI and Retails sales data will released and assumption is it will remain below forecast.
This will bring US Dollar index to bring down.
As chart suggests pair took support around 112.20-112.30 levels just trend line support forming triangle pattern.
If this level breaks price can find support near 112.00-111.70 ...
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