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.
✯✯✯✯✯✯✯✯UJ- USD/JPY- Weekly Forex Trade Analysis- 06-06-2021 - 06-11-2021✯✯✯✯✯✯✯
✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯Trade Idea Information And Market Analysis✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯
#1- Market Trend / Market Bias = Uptrend- The Market Trend Is Up
A. Blue Arrow Pointing Upwards... Signaling A...
USDJPY is almost testing its resistance area with narrow range price action, momentum is weakening across the board, i am expecting a dead cat bounce to at least test the top of the bullish channel, thereafter i am expecting fresh falls. Watch this market closely.
From last week we saw price start a bullish transition, to the upside we will wait for what happens this monday as price develops.
I am waiting for price to come up to price range of 111.725 and see how price reacts around that level if not the next level that I am looking at is 112.158
Of course we want price to hit one of these key levels and break trend to...
usdjpy continues to move downwards and it is clear to see bears have control. bulls failed once again to break the last high and we continue to make lower lows. should price continue on there is a high chance for a 3rd entry point before our final fall.(see other trades)
With 100-101 level being a very strong support from 1992, 2004-2005 , there is a very likely chance we could see a retraacement to the 101 level before reaching the next support at 95.000 area. if so there is very likely possibility to get in on a short at the 101 level. (see other trades for short idea)
Last week bulls tried to make a recovery and pull price up from support and past the next support but failed. Bears were able to hold the 38.2 retracement as well as well as bringing price back down into major support area (101). as price continued into this area we can see it touch the demand zone and make another reversal up but bears once again were able to...
As usdjpy continues to make its move down that started back in February, price has repeatedly failed to hold any support, i.e 116 area 111 area and 105 area . price continues to climb down as we can clearly see bears are pulling the market down. we can see this happening as we seen bulls try to pull the market back up above 105 area but only reached the 107...