Selling opportunity on USDJPY using the Elliott Wave theory in the 1hr time frame
The pair finally has broken down the lower boundary of the consolidation and is trading below it. The move was sharp and supported by large volume, which is a good bearish signal, but we should note that volume was concentrated at the bottom of the fall and the new support level was created. It is 111.73 - 111.86. So we can open short positions after a sure...
Morning outlook - USD/JPY down 0.6% amid growing Trump & Kim rhetoric In line with expectations, the currency rate continued to climb to the top, trying to reach the upper line of an ascending triangle pattern, another escalation of the North Korean crisis led to fall of the rate by 68 basis points just in two hours. Accordingly, in the beginning of this...
Morning outlook - USD/JPY surges amid US fundamentals In line with expectations, the currency rate reached and made a successful rebound from the bottom trend-line of a senior ascending channel. Fortunately for the buck, this technical moment matched with release of information on the US non-manufacturing activity. However, the surge did not last for long, as...
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
USDJPY is set up to prove it true direction this week. Look for a break of it's current zone and strong movement. Higher High will need to be made to confirm the continuation of the uptrend. A Lower low with retest will signal the reversal. with NFP news on friday, i wouldn't be surprised if market consolidates until then -_- BUT hoping for the best. ALWAYS wait...
Morning outlook - USD/JPY breaks long term pattern Unfortunately for the Yen, the buck traders managed to push the pair through a combined resistance formed by the monthly R2 at 112.54 in conjunction with the upper trend-line of a ten month long falling wedge pattern. Despite such significant breakthrough, the exchange rate continues to fluctuate in two recently...
Morning outlook - USD/JPY continue to fluctuate near monthly R2 at 112.55 Due to increasing hostile rhetoric between the US and North Korea about mutual destruction, the Yen got another momentum to try to return to the 111.38 level. But this attempt was neutralized by the 100-hour SMA near 111.72. Because of this support, the buck started restoring its lost...
Pending Short @ 111.00 Stop Loss @ 111.70 Target @ 108.00 RR Ratio @ 4.29 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Hello Traders, Weekly Chart Scenario 1: (Normal conditions) > Price exactly at .618 > On 4H we have a nice buy setup. Scenario 2: (Risk conditions) > Hurricane Irma, N.Korea tension. > It may reach 0.786 level in worst case. > Wait until weekly candle shows bullish momentum. I rely on both technical and fundamental analysis and use my strategy to trade, you...
Morning outlook - USD/JPY rebounds from monthly S1 at 108.48 In accordance with expectations, most of the previous trading day the currency rate spent in an upward movement, using the weekly and monthly S1, as trampolines. Despite such rebound, the further road to the north is still obstructed by the 100- and 200-hour SMAs and then by the weekly and monthly...
Morning outlook - USD/JPY leaves falling wedge As it was expected, the currency rate continued to plunge in a falling wedge pattern, trying to reach the weekly S1 at 108.80. Due to existence of this pattern, a collective pressure from the 55-, 100- and 200-hour SMAs from the top and geopolitical tensions, the pair managed to reach this target. However,...
We are looking at shorting the USDJPY from the Weekly Central Pivot Point on a show of weakness, and if that fails then we have a backup in the form of our Weekly M3 zone. This is a typical sell zone in a downtrend, and we also have a confluence of factors at play here. 110.00 even handle Weekly M3 sell zone Bearish Bat pattern completion Major structure...
Near Term Setup - LONG USDJPY Expected reversal from 108.709 to 111.015 Entry:108.287 (based on April Support levels) Stop Loss: 108.709 Target Profit: 111.015 Expected Time frame for trade is 3 days Note: Reversal has not been confirmed as signal line has not crossed over as yet.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Taking a look at the USDJPY daily chart you can see that the cycle suggests that the yen is at a buying point. Notice that when you pull up your cycle tool that you can measure the previous cycle and that it is about time to start looking for long setups with a target of the previous highs.