The dollar yen has confirmed the down move giving a us a bearish candle on the weekly chart. We think this week should end up red too before we enter a consolidation in November as the market awaits the next news trigger to form a direction.
We wait for a correction and enter a short. Our exit is near the top of the channel at 112.5
USDJPY 1D-TIMEFRAME ANALYSIS The elections idea
Hello ladies and gentlemen
This is my new idea for USDJPY of the upcoming movement
I think we are heading to big swings
But the important days for me are the day the winner is announced
Strong movement after the announcement
From there we will start the bull market
We reach the top at the end of the year
USDJPY has recently touched the channel top after a strong and extended impulse upwards. It is currently consolidating around the 111.000 area. Expectational orderflow is towards the downside, a wise choice would be to enter after a break and retest of this level.
Yesterday UsdJpy has reversed from the channel's resistance
With the stock market ready to fall again I expect the pair to drop to channel's base in the next weeks.
The bearish scenario is valid as long as UsdJpy is trading under 112 zone
After this huge push to the upside we can start looking at a short positions for this pair
Price is currently at a weekly resistance level so I will be waiting for a break of structure before taking the short down to the highlighted area
USDJPY SHORT. THIS CHART WILL BE AGREAT SHORT Intraday bias in USD/JPY will be downdtren at this point. Decisive will reach 3 touch and will confirm that correction from 111.65 has completed with three waves down to 108.71.
USDJPY Showing Some Nice Selling Opportunity.... Counting On Trend Reversal or A Slight Pause With The Trend... SL>> Slightly Above Previous High In-case Trend Strength Pics Up & TP Indicated On The Chart ... Good Luck!!!
Market is moving in bullish in daily timeframe. In shorter timeframe market has broken out of descending trendline and unable to cross strong resistance above. RSI is also at 78 In 4H timeframe. So most probably This pair is going to fell sharply from resistance.
Need confirmation when running candle is close below resistance.
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For 2 months now, UsdJpy is trading in a range
I expect this to remain the case going forward and a drop from the resistance zone is what I'm looking for
Also, a sell close to 111 can have a great R:R if we target the bottom of the range