After hitting the Resistance level of 113,650 a few times without a good breakout we could see a drop to the first Support level of 113,200. If that level won't hold we could see a further drop to around 112,600. Our last target is 112,275.
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USDJPY broke out quite sharply yesterday at FOMC, expecting the market to continue downside move towards prior lows, short term momentum well lined up, so worth to play shorts today.
Thanks for your support.
USDJPY been a nice mover from past few sessions, price action is struggling at the moment, momentum is weakening across short term time frames as well, so i am looking for short setups here, not expecting much pips but still there is scope for 30-40 pips.
Thanks for your support.
Expecting another leg lower on this market, since price action is struggling at this area, momentum is weakening across bigger time frames as well, looking for shorts if you have your trading strategy.
Watch for the bounce zone. You can short now if you want, but carefull of the turn around zone. It may happen shortly before or after the marked zone. The current market is a little unpredicatable with the DJI dropping late last week, and now BTC popping nicely this morning.
USDJPY BULLISH SETUP
Hi Guys, the USDJPY is in a corrective structure, this is one possible way it could develop next week. I will watch it as it develops and updates the possible trade setups, short-term, and medium term.
Thank you for your support.
USD/JPY has broken all of its ema's on the 4 hour chart and is finding support on top of them.
We can expect the first TP for this continuation pattern to be at 111.95.
On the long term, if USD/JPY holds strong, we can expect it to hit back the 113 level.
Possible bullish Gartley pattern forming on the hourly chart with the below confirmations:
AB - 61.8 fibonacci retracement of xa
BC - 78.6 fibonacci retracement of ab
CD - pending 127.2 fibonacci extension of ab
Sell completion of d leg with targets at prior pivot bottoms.
USDJPY just tested the downtrend line today-i am expecting it to retest the top of the diagonal and then a drop to around 108.00 handle. If you have your trading strategy, consider short term buys for the top of the diagonal.
Hi traders, USDJPY is still Bearish . Don't miss this short. It has a huge potential.
As per my analysis, price action shall further move up to the below targets.
Entry: 110.342 (or) Entry @ CMP
Take Profit: 109.733
Stop Loss: 110.613
Risk Vs Reward Ratio: 2.25
Go short the USDJPY ; Good Luck