USD is much stronger than Japanese Yen. Japan economy is not in the good condition. As per my analysis Yen will remain weak for the whole next week. Better to look buying opportunity on it.
Japanese Yen seems more weak in next coming week. I believe it will fall against the USD, but while trading it, keep an eye on DXY. Because if you judge DXY perfectly, you will make handsome profit on it.
USDJPY a strong support is reached, it is likely to react well. Wait for a good position to buy.
Although the trend is still bearish in the medium term.
Observe the money management and the stop loss.
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Japanese Yen is still weak and I don't believe that in coming days it will show strength till US will not start to decrease its interest rate. Every dip in USDJPY is an opportunity to buy it.
Last week JAPANE has not increased its interest rate and by this JPY come again in weakness after some strength but from last Thursday USD took strength against the JPY. Better to watch buying opportunity on it.
On Friday night USD fell badly just due to the speak from Federal Member. I believe it will rise again and will make new HIGH of this year. Better to buy on DIP as I already mentioned in the chart.
#USDJPY
- By this time USDJPY was very well BUY with US ECONOMIC DATA being POSITIVE. And FED UPDATES were very POSITIVE. So the JPY automatically went down. The other reason is that MARKET RISK is OFF. And JPY WEAKNESS came according to their ECONOMIC PROJECTION. Therefore, with the SENTIMENT in the MARKET, the JPY became WEAK in a very short time.
- At...
Each person can see patterns in this chart based on their vision, such as triangles, wedges, or flags. Therefore, in my opinion, the template name is not very important.
Whichever pattern breaks, we will most likely see a sharp move in the same direction.
Observe the money management and the stop loss, the Fed is speaking today, and the Jackson Hole meeting is...
#USDJPY
- At this point, USDJPY was fairly well BUY with the emergence of some positive comments regarding US INFLATION DATA and RATE HIKE SENTIMENT in recent days. As a result, the USD automatically rose against the JPY. The other reason is that MARKET RISK is OFF.
- Right now, the MARKET is getting a bit RISK ON, that's why the USD is going down. For this...
We can see the weakness on the upside because it's hitting January 2002 resistance. Just check the monthly chart, you can see it there.
The trendline will be the confirmation if we will go bearish. Just wait to break the trendline and go short. We have long way down.
As you can see here, I see 3 possible scenarios for USDJPY. It's been in an uptrend for some. I mostly want to sell as you can tell since 2/3 of scenarios include UJ falling to 132.6. It hasn't seen that 132.7 high since 2002! So should it decide to go up, I'd prefer a deeper retracement, but with the "r" word looming in the US economy I'm not confident that UJ...
#usdjpy, Bar "A", "B", and "C" formed evening star pattern for short. 21st June bar "A" broke resistance to catch stop losses. Bar "B" inside bar confined within the range of the last bar. Bar "C" broke inside bar low confirmed weakness ahead. 133.00 first hurdle as a support if breach then next 132.30.
#usdjpy, 15th June daily bar is key reversal bar dictating weakness ahead. while friday bar is quite bullish bar but not breached 15th bar high. So until price does not breach key reversal bar high my view is bearish. sell cmp 134.90 with stop loss 135.80 for target 130.80.
