USD/JPY SELL SIGNAL
ENTRY: 109.000 - 109.035
STOP OUT: 108.330
TARGET #1: 108.830
TARGET #2: 108.600
TARGET #3: 108.360
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USDJPY 4H Sell
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Pattern: 1D Channel Up.
Signal: Bullish as the price found support on the 1D MA50 making a Higher Low within the pattern.
Target: 109.800 (the Lower High on the 2019 Descending Triangle).
*note: if the Golden Cross (1D) takes place you may extend buying up to 111.800 as it happened in July 2018). If the Golden Cross fails to form, abort as another sharp decline...
Usdjpy - Daily - This pair has been very hard to forecast due to the bullish yet range bounce price movement recently but given the stength in jpy this week.. with a break of a daily ascending trend line and a head and shoulder pattern broken on H4 chart.. I can see price heading down towards 107.. lets how this plays out..
As you can see in the above graph, the previous two times that usdjpy touched the 200 trend line the response was a nice increase.
We believe usdjpy is on the way to test resistance at 109.40 in the weekly graph.
UsdJpy had a hard time staying above 109 figure and yesterday the pair broke short term support at 108.50-108.60 zone. Now the pair is trading around 108.60 zone now which should have become resistance.
Sell around 108.50-108.60
SL @ 109.20
TP @ 107.00
Usd/JPY has a clear up-trend in play, however we approached a important level of resistance where it absolutely melted from this level the last time (RED).
I have two take profit targets, Pulling out the FIBB Retracement tool will be helpful as well.
In USDJPY daily chart, the price formed a falling trendline since the beginning October 2018 and has since respected it very well for five times.
Price has again revisited the trendline and the bounce is very evident in the smaller timeframes.
It will be safe to open only sell orders around this zone unless the trendline get broken.
Les presento mi idea de una posible venta en esta divisa, de manera que el mercado vaya alcanzo un excelente nivel de retroceso, podremos usar nuestra herramienta fibonacci y esperar que el retroceso toque el 50% o 61% de el desplazamiento del fibo, de esa manera proyectarnos hacia una posible caída al precio de 107.563
Look at the Fibo level s and resistance. Strong resistance which is tested couple of times but couldn't break. 200EMA & Bollinger bands working as a resistance too and UJ is overbought situation as well. In the mean time "W" pattern was formed in the chart and price starting to bearish movement.
Note: Trade at your own risk.
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Shows a bearish continuation structure to move to the downside
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the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders...