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.
Buy near USD/JPY 111.35
S/L: 110.73
T/P: 113.669
The price made pull beak to key buy zone. Also, there is the upward line which shows us that big players want to move currency rate up.
P.S. Send it to your friend if you like It, please.
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.
USD/JPY overview
The price bounced up from key zone 110.905 – 111.12 and hit my S/L yesterday. At this moment I think about but only because when the currency rate bounced from such zones it is a signal for continue of the trend.
I will open Long if the price will make pull beak to key level 111.12
The Goal will be 9 months maximum 114.70
P.S. Push on loke...
Everything is pretty much on the chart. I am posting the 4H (I don't know how to post pictures in my comments, not enough rep I think) to give the bigger picture of the swing but the entry is on the 1H, EMA cross over happening, waiting for next candle close(above).
Trade Safe!!
Since breaking out from the triangle wedge form at a weekly support, traders have chosen the direction for USDJPY.
I would only be interested in positioning buy trades at the zones I've mapped out above.
Trade with smaller lots as trades go higher to reach 112.200, as it goes to challenge the daily supply area.
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.
Trade Safe.
USDJPY trend has exhausted now. Expecting a pullback as price has taken resistance from long term fibbo level.Trade at given levels. Accumulate at 111.100-110.800 Levels for good risk reward ratio.
USDJPY almost testing the top of the diagonal-momentum is likely to be slowing which suggesting for a correction to prior lows to then further advance-just keep an eye, and look for sell setups for the prior lows. Plus i do see a head and shoulder pattern forming on monthlies, but anyway keep an eye on this market and lets see.
Happy Trading.
USD/JPY Weekly Overview
7 weeks ago price broke up Range. As you se on weekly chart, when price did it, also currency rate broke up key resistance level 107.94, which become support. Also, 2 weeks ago price bounced up from that key level. For it shows that situation is totally bullish because big players protect key levels.
The best place for open deal is near...
Price Action: Bullish
Pattern: Overextended inverse head and shoulders.
Long-Term Momentum: *Bearish
Short-Term Momentum: Bullish
Bias: Neutral
Action: Wait until price corrects and finds support; however, price does have a chance to run another 100 pips before a major correction. Price closed as doji star. Sunday should give better indication of direction....
USDJPY bounced perfectly above our buying level as expected and looks poised to rise further in this bullish channel.
Buy above 109.98. Stop loss at 109.61. Take profit at 110.86.
Reason for the trading strategy (technically):
Price has made a pullback to our buying level and bounced off perfectly as it continues its way towards our profit target. Our major...
USDJPY remains in a strong ascending channel and is also above our Ichimoku cloud signalling that there’s strong bullish momentum. Price could potentially drop to our first major support at 109.98 (Fibonacci retracement, Fibonacci extension, horizontal pullback support) for a bounce to at least 110.86 resistance (major 61.8% Fibonacci retracement).
RSI (89) has...
