USD/JPY has been on in a rising channel making decent HH & HL, with a decent and clean market structure. The market broke out of the trendline with the first impulse push and later started the exhaustion move to the upper resistance area, Market has fully exhausted its bullish push and UJ bear market has come to stay. The bullish daily engulfing at the zone is a...
Already had a retest at 111.80.
Potential retrace to 111.40 to pick up more bull momentum.
That being said DXY is in a key sell off zone.
Look out for> a positive outcome expected on the Japan current account which could see a break through on the 111.40. Set a second take TP
As a risk off safe haven asset, the Japanese yen tends to strengthen during times of volatility. A number of signals suggest this could be a turbulent week for markets. If that is the case, USDJPY short.
USDJPY, Ever since the extremely large drop on mist fx pairs, USDJPY has pretty much just been travelling in an ascending channel with a few false breakouts here and there.Price is at the . bottom of the channel now and has made a higher high (broken resistance, indicating a movement to the top of the channel again
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Salam and hi my name is Khalid Hamid. USD Index is showing a reversal, thus USD pairs might go down too (including USDJPY).
Early sign is there but still need to wait for a STRONG BREAKOUT signal to the downside.
Watch the video to understand. ;-)
Tomorrow is NFP and few other high impact data release so please be careful with your trades.
Good luck and...
USDJPY showing some fib channel confluence and previous zone in which a large supply candle broke out of which gives me extra confidence in a short opportunity coming.
Another trade ive entered - JUST PATIENCE NOW - ALWAYS LEARNING
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