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.
USD/JPY Outlook Resistance Level Target: 114.46 Support Levels: 110. 520, 110.107, 108.913, 108.157 Target Entry (Long): 108.913 to 108.157 (check for price signalling of reversal before entry) Target Entry (Take Profit): 114.46 There appears to be a horizontal channel which has formed from March 2017 up until now between 114.464 and 108.156. The price...
USDJPY we are probably near an end of the bullish retracement, stochastic is overbought and Heiken Ashi candles are showing wickness i'm expecting a bearish move soon. Trade with care ;)