This pair is in a trending channel. Notice the resistance at 112.135 level. The market is in a choppy phase or efficient. I am expecting a imbalance in price or an extreme move in the upside. I suspect smart money is pairing orders and breakout traders will pile in to run price higher.
If price breaks and closes above 111.955 level I'm long. I will post a 4...
USDJPY DAILY CHART:
- TESTING 112.00 LEVEL FOR THE PAST 8 DAYS
- BULLISH TREND LINE
- RSI > 50
---> READY TO JUMP
BUY PLAN:
BUY@111.879
STOP@111.570
TARGET1@112.95
TARGET2@113.85
RISK: MEDIUM, IN CASE PRICE BREAKS
DOWN BELOW TREND LINE ---> SELL PLAN
In USDJPY we have a beautiful move that we called out for sell scalps. Perfectly hit our ascending trendline and reversed immediately towards the monthly resistance. Now we are facing two scenarios. A sell stop or a buy stop.
USDJPY SELL STOP
start: 111.648
Stop loss: 111.953
Take profit: 110.195
USDJPY BUY STOP
Start: 112.253
Stop loss: 111.913
Take profit: 112.849
decided to go long on this pair strictly because of fundamentals i look at, weakness in Yen, and we know for the most part there is strength in thee dollar.
Note:
There has been a lot of pressure coming from seller as they are trying to push the price Lower, shown by yellow arrows.
1hr:Shows strong signal of Distribution as candle are hugging the bottom of the Archery. Sells at 111.843
A Glance at Technical Analysis:
USDJPY minor trend has been spiking upon hammer pattern candles but bulls seem to have been exhausted at stiff resistance of 112.148 levels. The failure swings are observed at this resistance levels, consequently, whipsaws pattern has occurred. As a result, more slumps are likely for the day as both leading oscillators (RSI &...
Hello all
Following my two entries in USD JPY on the 17th and 18th April, I am now entering a third position Short.
It is now starting to cycle lower on the 1hr time frame and therefore, dependant on how it closes in the next 30 minutes, I will be looking to enter again Short.
If this plays out, i will be 12 : 1 Win vs Risk ratio as I have been able to reduce...
Looks like this consolidation is coming to an end for good. Its safe to say the market is most likely to drop since it hasn't been any higher ever since December last year. Based on fibs it looks like we are in a sweet position to catch 40-50 PIPS.
Muted USD/JPY price movement
Price Movement
Since yesterday, USD/JPY has been moving indecisively within a 30pips range.
Trend
Overall, USD/JPY is trending upwards.
Important Issue
None.
Technical
USD/JPY is currently testing the 112 key level.
Price Levels
Current Price: 111.880
Next Resistance: 114.000
Next Support: 111.700
Also known as trading the “gopher” the USDJPY pair is one of the most traded pairs in the world. The value of these currencies when compared to each other is affected by the interest rate differential between the Federal Reserve and the Bank of Japan.
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