Taking a look at the USDJPY daily chart you can see that the cycle suggests that the yen is at a buying point. Notice that when you pull up your cycle tool that you can measure the previous cycle and that it is about time to start looking for long setups with a target of the previous highs.
If we look at the USDJPY we can see it is in a consolidating bearish channel. I think we could get one more move to the bottom of the channel, but I am watching to see how the pair react at the top of the channel. We could either see a bullish break out, but more probable is another bearish move lower to the bottom of the channel, where there is also a zone of support.
USDJPY Daily Time Frame The range on USDJPY is narrowing. Aso the Stoch RSI is making a nice bullish crossover. As you can see the range shows a bit more room to the down side possible, but I doubt that it will go down alot. My advice: - Buy the Dips - If you have the equity start with a small buy position and be ready to add more every 80 pips
How to trade the Channel Buy Limit @108.60-108.65 Buy Limit @ 108.35 SL-108
with gold breaking the 1255.xx handle we have unlocked 1300.xx and beyond in a fairly easy swoop. Smooth tides expected here as we see jpy appreciating much more as us10y paper starts to see buyers coming in. JPY running 0.2% cpi y/y with little to no wage growth....tracking like a hawk here, Q2 flows already getting in position. Congratulations to those who...
Here is the Weekly chart of the USDJPY with a nice test of the 200 SMA. Keep an eye on it for more upside as long as price can stay above the moving average
we broke the trend line, retest the trend line and now we are forming a flag in channel.
Quick little analysis I got together for how I think UJ will trend tonight and/or tomorrow.
Switching sides this week on u.j, the attached dxy chart also shows the room to the downside in the USD for the coming week, with no word out of the fed, all eyes on Hammond and Draghi we have a typical buy rumour sell fact scenario on our hands. will be posting updates in the new telegram channel thanks and gl
Greetings, As you can see on the chart we have a possible gartley building with price respecting the pitchfork trendlines more or less. Price is currently testing resistance, should it get rejected we will await it at 114.580. The pink dashed line is a pitchfork trendline from the daily chart and should proof reliable. If price does not go any higher we could...
I am expecting a drop here let me explain to your guys the reasons. .Compression Zone .Price too expensive to buy .Price Holding At Certain Level .Triangle Compression Good Luck Regards MJ (usd/jpy)
on a break of 113.20 a long position could be possible. The next major resistance is at 113.75
looking for a break out of the channel at 115.8, a retest and continued bullish move.
112.867 marks the 50MA and 50% retracement of the 2015-2016 decline, moving from previous resistance to future support Trumps conference yesterday due to focus on fiscal side caused a sell off in usd, prepare positions for the next leg. Please see related ideas to see accuracy in this pair, best of luck and please thumbs up!
2 different possibilites. a test and break fail at the 113.15 zone which would send UJ bullish up to the 114.3 zone or a break below 113 with a retest from the bottom side and a bearish move down to 112. For a short position you will want to see a break of the trend line on momentum as well which would open up the bottom side for a nice 100 pip short position.