Looks like this consolidation is coming to an end for good. Its safe to say the market is most likely to drop since it hasn't been any higher ever since December last year. Based on fibs it looks like we are in a sweet position to catch 40-50 PIPS.
This pair looks like there may be a possible short opportunity incoming.
If you were to look at the daily chart, you can see that price had rejected the 112.000 price level 3 times.
Here on this 4HR chart, looks like we are currently in a ascending triangle along with what looks like a double top formed inside the triangle.
If price breaks down of the triangle, I...
USDJPY HAS RECENTLY TESTED AN AREA WHERE PRICE TESTED MULTIPLE TIMES IN 2017. I HAVE TWO BIAS ON THIS PAIR.
PRICE IS IN AN UPTREND ON THE DAILY TIME FRAME. EITHER PRICE WILL CONTINUE UP TO MY FIBONACCI TARGET AT THE -27%
OR PRICE WILL BREAK THE UPWARD CHANNEL, RETEST IT, AND THEN CONTINUE DOWN TO PREVIOUS SUPPORT.
WATCH MY VIDEO ANALYSIS ON THIS PAIR YOUTUBE:...
Hi traders, USDJPY is Bearish . Don't miss this short. It has a huge potential. Currently short term trend is Bullish. Buy at top and hold.
As per my analysis, price action shall further move up to the below targets.
Entry: 111.081 (or) Entry @ CMP
Take Profit: 109.733 (TP1) & 108.386 (TP2)
Stop Loss: 112.429
Risk Vs Reward Ratio: 2
Go short the USDJPY ; Good Luck
Last week we kissed the 0.382 fib level and had a strong wick indicating a loss in the bulls momentum. This could be a strong indicator of the start of a reversal for USDJPY.
This week all eyes on USD with Trumps Speech Today with his Hawkish attitude toward the Iran situation causing great volatility in the Oil Markets. Consumer Price Index...
USD/JPY drops to 111.30
Due to fears of a large reduction in foreign Dollar asset purchases, the American currency fell by 0.86% against the Yen just in couple of hours. The plunge was stopped only after the exchange rate reached support area located around the weekly S2 and the monthly S1. Accordingly, today bulls are expected to try to restore lost positions....
USD/JPY fails to bypass 113.68
Most of the previous trading session the currency rate spent moving towards the 23.6% Fibonacci retracement level located at 114.03. Nevertheless, this target was not achieved due to resistance area formed near the 113.70 mark. As for today, a minor retreat back to 113.20 is possible. However, the Yen unlikely to gain much value due...
USD/JPY prepares to test support at 111.20
In line with expectations, by the end of the previous trading session the currency rate has reached the upper boundary of a currently active descending channel. As this barrier was additionally backed up by the 38.2% Fibonacci retracement level as well as the falling 100-hour SMA, the pair was forced to rebound. During...
Usdjpy Buy at 112.64 tp stoploss below 112.25 tp is 114
Weight of evidence :
Previouse resistance become support
Good luck trade with care
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Seildev here. Today we're looking at USD/JPY (60) - Key level of support and resistance at 111.71. Either looking for break out above 111.80 or wait for the break out and buy long at retest of the pullback around 111.80.
- 111.71 key level of support and resistance
- Possible bullish triangle forming
- Support from 38% fib at 21st/June (Contracting)
Buy above 110.25. Stop loss at 110.03. Take profit at 111.15.
Reason for the trading strategy (technically):
Price has shot down and reached our profit target perfectly. We prepare to buy above major support at 110.25 (Fibonacci extension, horizontal swing low support) for a push up to at least 111.15 resistance (Fibonacci retracement, horizontal overlap...