USDJPY been slow over the last couple weeks consolidating at a major resistance area, but have now seen price slip off to the downside showing we could be in for a reversal or longer term pull back. All eyes will be on resistance area 113.500 that's where id ideally like to see a short from.
Hey Traders, in this week we're monitoring USDJPY for a buying opportunity around 113.4, we expect the pairs to do a big rally towards 116.500 zones the next month, so we're waiting to catch the best entry. once we will receive any bullish confirmation the trade will be executed!
Trade safe, Joe.
Here's my view on USDJPY.
It has been a pretty long bull run for the past few years and it's not going to stop soon. So there are 3 scenarios which will likely to happen.
1st Scenario is there will be a pullback due to a strong weekly supply zone to the nearest support from the past few weeks' price and it will continue going higher and breaking the supply zone...
Dont try to predict the market. Rather, prepare. Create potential scenarios or outcomes and how you will react to the market in those different instances. This will hep control your fear and uncertainty thus, giving you confidence in your trades. I cant give out exactly how I enter trades but I would advise you to have a minimum of three confluences convincing you...
USDJPY has been making steady gains but has now come into a strong resistance level and formed a bearish engulfing candlestick pattern on multiple timeframes including the 4-hour. We have here an opportunity to short this pair back down as it retests the resistance level as new support.
Whilst the weekly and monthly timeframes are still bearish, this setup is...
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..
Going long on USDJPY
1. Price pinned the 50ema
2. Bullish engulfing candle pattern completed
My stop is a tad below the moving average at 110.110 and
take profit below resistance at 111.042
This set up is purely based on doing buys if price is above the 200ema using it as a trend filter and then the 50ema for entries targeting previous highs.
This trade has a...
Based on monthly bearish channel and resistance level. JPY could strengthen technically against the USD. Tensions with NK could send this pair down to 110, which I'd like. Apart from that, NFP friday in 2 weeks, I may close it before that.