USDYEN: On the left daily time frame. 111.35 the 200 SDMA
On the right short term 111.40 (rejection high). 111.37 (low 26 OCT18)
Thats the frist serious resistance followed by 111.55 then 111.77/80.
I am flat looking to sell.
This pair was in a long running consolidation of wave B after a strong impulse up in wave A.
The wave B could have been finished already and we are heading north now.
The breakout above yellow resistance is needed.
Target is between 111.20 (C=0.618 of A) and 112.93 (C=A)
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=110.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=110.65.
TP4: R2=110.8.
Set the stoploss of these orders at breakout of S2=109.9.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=114.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=113.7.
TP4: S2=113.5.
Set the stoploss of these orders at breakout of R2=114.2.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
230 pm we have a news report coming out for jpy, its minor which is in 30 mins since this idea was published, looking at the yeilds and the bonds which affects this currency, i have assumed it will be a buy.
Two days ago USDJPY broke above major trendline and have pushed higher since. Also mentioned a week ago that this pair was still bullish on a lower time frame. Though at this point anybody can look at this chart and say it's super bullish, however, in my opinion, not only is it near key resistance level of 112.50, there's also a divergence on both MACD and RSI. In...
Hello Traders,
USDJPY is set to fall as the DXY index falls. However, the technicals for this particular pair tell me that price will continue to move higher. If you choose to take the short side of this trade you may do so on smaller time frame and with a tight stop loss. The goal of the short would be to see price go into the consolidation zone.
Unsure what tp we will hit : I prefer the second one but we can see a strong reaction off of the first tp back to the purple trendline : so lets wait and see what transpires of this market
This is my analysis on USD YEN with information on the chart along with tps with further explanation
happy trading everyone
I see if we hold this level and keep upwards to hit either one of the tps up then back down into our short trend , if we break the dotted line we can see 104 or 103.50 as targets
In my analysis I see usd yen short where the market touched the outside pitchfork line , as well
from here this would be a great Risk to Reward to the TP provided
Hi everyone this is what i see at the moment
USd yen looking like its going down to the target mentioned once this tp gets hit once that happens a reaction will take place how much that reaction will go up etc
happy trading everyone
Kris
