USD/JPY breaks two-week long channel down
For the first time in many weeks, reports about another ballistic missile launch made by North Korea did not led to appreciation of the Yen. The news from Asia most probably was beat by a series of positive news coming from the United States. From technical point of view, strengthening of the buck led to breakout through...
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...
USD/JPY is set up for a good short opportunity. It has broken through and now come back to re-test a major 4-hour resistance zone.
If you look at the 5-minute chart, there was an uptrend that broke right at the end of the week so I will be looking to short when this week opens.
The blue lines below the zone are 3 TP areas.
PLEASE NOTE: I don't usually use a...
I have entered USDJPY and shorting it down to 110.500 level, Dollar is still weak from last week and I believe it can still be shorted before we see any movement to the upside. I am deep in profit after setting a sell stop which has been hit. Take profit at 110.513
USD/JPY has been weak and in a bearish trend since the beginning of the month with yet no sight of ending.
We can expect USD/JPY to lose more until it finds it's last support. It's yet still falling as if nothing was holding it.
Be prepared for the worst, 50 pips of Stop Loss might not be enough if it retaliates.
Invest only after the bearish trend further...
USD/JPY slips to monthly S1 at 112.04
Contrary to trade patterns theory, the currency rate did not make a breakout from the falling wedge formation to the north. Moreover, the safe haven Yen was quoted higher despite release of disappointing trade data. For this reason, the fall of the rate was most likely based on worries about vote for the new tax reform and...
A nice close on Friday afternoon of a Bearish Engulfing with not much bull power being shown in the remaining hours of the market, closing at 112.085 . On a 1 hour timeframe a head and shoulders has been created with the pair following suit and continuing to fall, adding to the strength of my short sentiment. US news is pretty quite until Tuesday afternoon so...
USD/JPY slips in new channel down
As it was expected, different news coming from the United States and Asia created a downside momentum that allowed traders with bearish outlook to push the currency pair down to the 113.65 level. The further deprecation of the buck was stopped by a slope consisting from October 16 and October 31 minimums. An existence of this...
USD/JPY reaches July 2017 maximum at 114.50
A release of data that beat analysts’ expectations not only signified a breakout from symmetrical triangle pattern but also provided a necessary impulse to reach the maximum of July 2017 located at the 114.50 level. That fundamental event was also significant for a couple of other reasons. First of all, it became...
We should point out two new volume levels for the Yen: the support 113.62 - 113.76 and the resistance/local maximum 114.37. The price is located in the middle between these two levels, but given that the growth of the price was sharp and on large volume while the downward correction was smooth and on small volume, we should give advantage to long positions. We...
USD/JPY resumed its growth and tested the upper limit of the consolidation/resistance level 114.20 yesterday. The test of the level was on increased volume, however, the price did not rebound from it, but remained trading near this mark. This is a signal to a possible breakdown of this resistance, which will give an excellent opportunity to open long positions....
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...
Morning outlook - USD/JPY fails to surge above 114.20
Although the currency exchange rate was fluctuating in an ascending triangle, releases of better than expected American data forced the pair to stop testing the weekly R1 at 114.19 and make a breakout in the southern direction. As the rate has already passed through the 55- and 100-hour SMAs, it is expected...
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...
USDJPY has been risen for the last 3 trading days and Daily downtrend line was broken, I'm expecting USDJPY to continue with the uptrend to retest the next resistance at 114.40. And from there will look for continuation of the uptrend if ever brake the resistance.
