UJ experience a long bull in the month of June to be precise, then finally formed a head and shoulder…..
From my recent high at 137.000 to it’s a low, we could see a double top. Hence I’m looking for a perfect short on USDJPY
USDJPY is in broadening top now and it has not any momentum to goes higher in this time.
I think it firmed a triple top and will drop very soon.
So, I am bearish on it and short it now.
Take care fellas.
Hi traders , We have a double top with a broken rising trend line and we see m pattern with break 134.580 will go very down.
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As I posted before, USDJPY reached a mass psychology (135.179 area).
We also saw that this pair formed a double top (Reversal) at 136.500 area then a clear 1H bearish flag was formed and it was the first short entry.
When the price reached the first lower TL, we saw a formation of the second bearish flag on the 15 mins chart, and that was our...
USDJPY has been in a bullish trend since the start of the year as it is trading above the trendline and 50d SMA.
However, the trend looks pretty mature as RSI started to show bearish divergence and MACD is flattening. Is this the top?
The possible drop could be 129.000 and 130.000.
Let us know what do you think of the idea?
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
The key psychological level of 135 provided immediate resistance for sellers but is now showing signs of being a sell trap.
Since a high amount of sellers joined at the key level and the trend line breakout, I believe liquidity will be targeted above this high before we see any signs of bearish momentum.
When the liquidity has been taken, I will be looking for...
Price has pulled back and now reacting to 4h Demand, we could see longs from here. 15m recently broke structure to the downside which is now in conflict with HTF order flow. If price continues to break down on the 15m, I will then look for shorts, however if price switches bullish on the 15m, I will then look for longs.
*Everything is mentioned on the chart. I hope it is easy to understand.
*Don't jump in to trade at the beginning of the market. let it get settle for 30 min 1H first and judge price action.
*Avoid gap up or gap down chase. Wait and trade between level.
Note :Trade with strict stoploss. It may or may not hit all the levels. So one can book profit / loss at...
Once again usdjpy pair make new all time higher high but 4 hr candle is unable to close above recents high today price could fall as a bearish momentum continuation.
Confirmation for sell entry would be
1 break of structure
2 break of pattern
USDJPY looking amazing!
Currently, the price reached a mass psychology since January 2002 at 135.117
I will be focusing on my short position in this area + waiting for a reversal pattern to execute. (The reversal pattern could be a rising wedge or ascending channel).
Always wait for the breakout of the pattern to enter the trade.
USDJPY is creating a compression channel near the resistance level.
A false break at the resistance level would be a great signal to short.
Share your opinion in the comments and support the idea with like. Thanks for your support!