I like this setup, this breakout to the downside is very important in my book. I will be looking to sell moves into 110.20/40 area and place my stop around 110.75 as shown on the chart. Target should be at least 109 and also an extension into lower 108'ish is very likely. For now i am waiting for a correction higher, i will update this idea as the market...
Price had a nice impulse on H4 TF. Looking to add to the sell upon trend continuation pattern formation. If price reverses to the top then look to sell from the top again.
Pair is in a consolidation range. We must expect solid breakout and retest of it to go short to the next level support (108,50-108 aprox). On the other hand, if price breaks above the resistance level, we can expect new bullish scenario testing the next maximum levels.
We took a short on USDJPY before NFP on friday in our trading room, however I think the NFP move is not a good indicator of the bigger picture. This is a swing trade.
gbpyjpy - if there is a significant break from the trend channel that its in. Then you better hold on tight and enjoy the ride. Im projecting 1000+ pips to the upside. Are you patient enough?
Not a fan of cross currency pairs but GBP/JPY is one of the more popular ones and correlates well with USD/JPY. The strong uptrend where GBP was rising and JPY was falling came to an end with the confirmation of new lower highs and lower lows being created. Sterling has recently lost some of its strength after being rejected at major resistance also fundamentals...
First time doing analysis on other pairs either than what im used to > USDZAR , EURZAR, GDPZAR...
Major news and fundamentals coming into play within the next few weeks. Continuations of a weaker dollar is still the motive until US data improves- this weeks NFP being the first shot. Anyways.. price has been consolidating in a few minor ranges within the major range of 111.500 and 110.500. Last week we broke an ascending channel in accumulation now waiting for...
GBPJPY In Strong Downtrend, Eyeing 141.00
Several Yen pairs have formed inside bars which may suggest a reversal of the trend. However, some are already on the decline like my previous trade analysis: EURJPY. With the 200sma few pips ahead, another ascending trend line for the pair is on play. What's more wonderful is that the trend line and the 200sma are overlapping which may suggest that this pair...
EurJpy is very likely to move down further and possibly a lot more further. Stoch Rsi is showing selling pressure is increasing and price is breaking the 14 EMA (purple line) When looking at the Elliot Wave we can see a 5 wave structure completed and we are now at the end of wave 1 of a possible new 5 wave structure. Wave 2 the down wave might go to 120.49....
Last week's last trading day, we've seen the Euro -- after its extensive pushes -- take a rest before any possible strengths to come. Along with this was Yen's upside push due to impressive economic data. As drawn, which is best viewed at 1-hour chart, we can see that prices have fallen below the 200 sma (I use this as a basis for possible early entry for trend...
Hey traders, a little late, but just came across this completed bullish bat formation here on the USDJPY which completes at a retest of a pretty decent looking consolidation area. Akil
Hey Traderz! Today, I have found a very good setup. Now, I already have a long position - for testing purposes. What I see is the following: On Monthly Chart there is a huge double bottom Both Weekly and Daily Chart provides information of going long on this pair We know that Euro has overachieved almost every G10 currency with an advance of 6%+ this year...
When ABC is not enough to correct, then it shall have 5 waves: WXYXZ Happy trading!
A breakout of the pink level is a buy to the red dotted trendline . If it breaks the black uptrend it's sitting on now, that's selling to 81.33