USDJPY has made another bullish exit with great upside potential. Buy above 106.48. Stop loss at 105.81. Take profit at 108.51. Reason for the trading strategy (technically): Price has rose perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci...
USDJPY has broken major descending resistance and also overlap resistance triggering a strong rally. We look to buy above major support at 106.41 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up all the way to 107.85 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (55) has made a similar bullish exit...
USDJPY has shot up perfectly and has surpassed our intermediate resistance, leading to a further rise. Buy above 106.41. Stop loss at 106.18. Take profit at 107.09. Reason for the trading strategy (technically): Price has rose perfectly to our first profit target and has surpassed that level. We are now seeing major support at 106.41 (breakout level, Fibonacci...
USDJPY is experiencing massive bearish pressure from our descending resistance line and we are seeing major resistance at 106.41 (Fibonacci retracement, horizontal overlap resistance). A drop could occur from this level to push price further down to 105.29 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a descending resistance line add...
USDJPY has started to form a bullish exit, time to start buying to play the breakout. Buy above 105.85. Stop loss at 105.40. Take profit at 107.09. Reason for the trading strategy (technically): Price has started to break out of our descending resistance-turned-support line signalling that a change in momentum should be expected. We look to buy above major...
I think USDJPY will complete the pattern for a buy with at least a 2:1 risk/reward ratio. Possibly more, trade as your own risk.
I am looking to get long USDJPY at market for a target to 107.16 & 107.82, stop below 106.16
A simple look at the daily chart shows a trend line that can be drawn from the previous lows and touches the current low in the Yen. It is a make or break level which if held could set up for a move back to the 1.10 level and possibly above. If the level does not hold then another strong push can be expected which would reach down toward the 1.05 level. It's...
Support at 107.830 (thick red line) seems to be a buy signal for most, although there is strong support coming from 2012 (purple line) which was tested in June 2016, twice in August 2016 and twice again in September 2016 which all failed to break. Ill be placing buys when UJ touches the purple support line, with SL below the thick red line - personally don't think...
USDJPY dropped perfectly as forecasted and is seeing major support above 110.50 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at last 111.41 resistance (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (55,5,3) is seeing...
USDJPY is now testing major resistance at 111.41 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a drop from here could occur pushing price down to at least 110.60 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 97% where a corresponding drop could...
Sell below 111.42. Stop loss at 111.73. Take profit at 110.61. Reason for the trading strategy (technically): Price is testing major resistance at 111.42 (Fibonacci retracement, bearish bar harmonic formation) and we expect to see a strong reaction off this level to push price down towards 110.94 before 110.61 support (Fibonacci retracement, horizontal swing low...
USDJPY has dropped nicely from our pullback resistance level of 110.96 as expected (major 50% Fibonacci retracement, horizontal overlap support stretching back to mid August 2017). More bears have jumped into this trade and this could drive price down towards 109.88 support (100% Fibonacci extension, Fibonacci retracement, swing low support). RSI (34) remains in...
Sell below 111.02. Stop loss at 111.97. Take profit at 109.49. Reason for the trading strategy (technically): Price made a pullback to our major support-turned-resistance line at 111.02 (Fibonacci retracement, horizontal overlap support) as expected and dropped strongly once again in line with the bearish view we have. We look to play the drop to at least 109.49...
I'm expecting USDJPY to keep dropping and test the 61.8 fib, great opportunity to go long