USD/JPY approaches 113.80 New trading week the currency rate stared in a limbo between the 200-hour SMA from the bottom and a combination of the weekly PP, the 55- and 100-hour SMAs from the top. Such neutral movement reflects anticipation of the Bank of Japan Policy Rate announcement. But since there is high probability that the central bank will left the...
Sell upon Further Price Action Confirmation. Happy Trading (*-*)
Entry 88.6 Stops under X Targets 38.2 and 61.8
After the test of the level of resistance, USD/JPY rebounded down sharply and on large volume, which puts under the question the scenario of opening long positions. But on the other hand, there is a strong uptrend, so we still should give preference to purchases. We can enter the market after a sure breakout of the resistance on increased/large volume. A stop loss...
Hi traders, (As always, our students got notified early about this analysis) King Dollar crushed every pair yesterday, creating a new trend. UJ somehow was one of the smallest intraday movement I saw. I guess that weekly (almost monthly) resistance got in his way. The trend is your friend and it will be ours today too. This is either a triple top or we are on...
USD/JPY grew up and is testing the resistance level 114.20 at the moment. If the price breaks it out, it will be a great bullish signal. The breakout move should be sharp and supported by increased/large volume. A stop loss should be placed below the breakout volume bar. A potential of the deal is more than 110 points. The bottom line: long positions after a...
The price corrected down strongly yesterday. We should note that the move was pretty sharp and on large volume, so our previous scenario is questionable at the moment. Also we need to point out the new resistance level 114.20, which is a local maximum the price started falling from exactly this level. So we can consider long positions only after a breakout of the...
The Yen grew up and totally absorbed the previous fall of the price, which is a good bullish signal. Moreover, the growth of the price was on increased volume, so now we should give preference to long positions. We can enter the market after the resumption of the upward move supported by increased/large volume. This will be a sign for the continuation of the...
Morning outlook - USD/JPY surges to 114.00 amid Abe’s victory In accordance with experts’ expectations, the Japanese Prime Minister Shinzo Abe and his Liberal Democratic Party secured their seats for another term. Anticipation and confirmation of this result led to sharp appreciation of the Dollar against the Yen, allowing the pair to reach a new cellar at the...
I believe that retest of Upward trend line will occur, and UJ will stay within channel and post a new high.
The price showed a significant growth during the Asian session and now is testing the upper limit of the consolidation/level of resistance 113.20 - 113.42. Given such a strong bullish impulse, it is necessary to point out the scenario of the breakout of this level. If the price breaks the resistance out sharply and on large volume, it will be a great bullish...
Morning outlook - USD/JPY tries to reach 112.60 During previous trading session, the Greenback continued to strengthen against the Yen, fluctuating in two minor ascending channels. At the moment, the turnaround of the rate seems unlikely, as the southern side is reliably secured by a combination of the 55- and 100-hour SMAs in conjunction with the weekly PP at...
Hi traders, Just like NZDUSD, here we have UJ faking everyone out this week. No short term bear run! MACD faked & RSI too! Gold reversed, confirming UJ moves up. Here's what I'm thinking : USDJPY LONG: ENTRY : 112.19 SL : 111.411 TP : 114.343 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Hi traders! Here we have the USDJPY yet again! This looks to tempting to not try again! That wick that caught us off guard last Friday is now out of the way. A pretty bold MM move happened and now we are witnessing a change of trend across all major pairs. UJ hasn't moved as much as gold did which would indicate a bigger potential for that juicy drop MACD...
Hi traders! This trade got me thinking as it goes against few of my basic trading techniques. However, with the great week we already had (360 pips banked) I think it's worth the risk. This trade represents a great RR. What is nice about this trade: Resistance is holding it down each time MACD Daily is about to cross Bounced off the trend line All other...
Pending Short @ 112.80 Stop Loss @ 113.40 Targets @ 111.40 & 111.00 RR Ratio @ 2.33 & 3.0 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Morning outlook - USD/JPY surges towards updated weekly R1 at 113.36 Despite a certain volatility that was caused by a release of information on the US consumer spending, the pair continued to gradually climb to the top, as expected. In the first half of Monday, the rate is likely to cross the upper trend-line of a junior descending channel and continue to head...