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.
Price stopped at a minor level near 111.100 we could see a drop to 110.700 where price with bounces from or breaks below if so id near a clear break to 110.600 in order to take short positions. if not price could bounce from 110.700 and rally up between 111.1-111.500
Price stopped at a minor level near 111.100 we could see a drop to 110.700 where price with bounces from or breaks below if so id near a clear break to 110.600 in order to take short positions. if not price could bounce from 110.700 and rally up between 111.1-111.500.
USD/JPY has broken all of its ema's on the 4 hour chart and is finding support on top of them.
We can expect the first TP for this continuation pattern to be at 111.95.
On the long term, if USD/JPY holds strong, we can expect it to hit back the 113 level.
USDJPY have been trading in multi days bullish channel with succession of tops and lows, i see scope for further upside, as momentum still support the upside potential. Watch for a strategic entry around trend line while stop at green line, target 112.62.
Suppose, that correction phase on USDJPY currency pair, is over.
Currently predict, uptrend tendency, but if the price breakthrough the invalidation 110.271 all the possibility of uptrend will cancel.
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Best regards, trader Igor.
USDJPY just tested the downtrend line today-i am expecting it to retest the top of the diagonal and then a drop to around 108.00 handle. If you have your trading strategy, consider short term buys for the top of the diagonal.
Hi traders, USDJPY is still Bearish . Don't miss this short. It has a huge potential.
As per my analysis, price action shall further move up to the below targets.
Entry: 110.342 (or) Entry @ CMP
Take Profit: 109.733
Stop Loss: 110.613
Risk Vs Reward Ratio: 2.25
Go short the USDJPY ; Good Luck