Wait for the close of H4 candlestick above trendline so you can take fantastic long trade with nice risk to reward and probabilities for a nice push to the upside.
USDJPY LONG based on the strong support lvl and poc lvl (reversal)
USDJPY reversed off its resistance at 107.762 where it could potentially drop further to 106.661. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Price struggled around the area of 107.00 where it found strong support exactly at 0.50 Fibonacci retracement level. After that, we expect re-high of the price as it changed the trend from bearish to bullish.
Expecting USDJPY reversal towards yesterday high before we sell the selloff.
Hypothetical scenario (11/05 - 15/05): (1) Entry @ 107.050 (Buy Limit) (2) Stop Loss @ 106.750 | 30 pips (3) Target @ 107.650 |60 pips (4) R:R = 1:2
USDJPY moved down in three waves (a)-(b)-(c) from March high. The decline in wave (c) unfolded as an ending diagonal pattern which usually indicates that the end of a trend. The Elliot wave guideline on trading ending diagonal suggests that the price should move at least to the start of the diagonal. In this case, the start of the diagonal is 109.379 marked...
USD/JPY looks bullish after daily close above the key level. We should see a further upward movement.
Dates in the future with the greatest probability for a price high or price low. The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will...
In the above analysis on 4 hr timeframe scenario. I have drawn 2 horizontal lines as resistance and support levels zone. The other 3 lines of horizontal rays are the breakout level of zones. Disclaimer:- This is not an entry signal nor a trade setup. This is my just reference analysis and it's for educational purpose.
FRIDAY, 1st May 2020 #USDJPY SELL ENTRY = NOW 107.200 SL = 107.800 (-60 PIPS) TP = 105.000 (+200 PIPS) Disclaimer On PLEASE USE YOUR OWN MONEY MANAGEMENT RULES Your Money is Your Own Responsibility
Hello traders! UJ is getting close to monthly supply @106.00 Will be looking for long entry back to 108.00 - 110.00 Great Potential Trade!
USDJPY expected to rise up to 1st resistance at 108.475 where it could potentially react off and drop down to 1st support at 107.305. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
#USDJPY; by gaining momentum from the moving averages, the price can go up for a while.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk.. I wish you all the best..
Wave II almost complete. Patience is key. Good risk\reward ratio Buy when price goes below 101.159 Stop: 99.349 Minimum target: 118.650
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