Shorted two orders USDJPY at 110.17
TP1 109.57
TP2 108.57
S.L 110.55
Average Risk/Reward: 2.89
Risk of capital for trade: 1.5%
- Breakout below key support among 110.25-110.35
- 50 days simple moving average breakout
- Broadening rising wedge breakout on the daily chart
Symbol: USD.JPY - U.S. Dollar / Japanese Yen
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Short
USD.JPY - U.S. Dollar / Japanese Yen updates will be available in the comments section below.
Buy this symbol in pullback to broken resistance level. We get the good signal in 4H chart according to bullish engulfing candle.
Entry : 109.97
Stop : 109.65 (30 pips)
Tp1 : 111 (100 pips)
We saw a nice bearish move on Friday as money flowed out USD into safe havens like the yen and gold. The up channel has been broken and I am looking for a retracement to the 50.0 or 61.8 fibonacci levels.
Once price reaches the 110.396 level I will look to price action for a sell signal to short this pair:
IF the above happens I will have my stop above...
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
After move down i expect correction to price level 110.24, where I will enter the short position.
There is nice confluence for this short trade.
1. Move down
2. Weekly close is down
3. Volume accumulation
Happy trading
Dale
UJ seemed to keep going up and up and up.
Until it hit the 9.618 extension and fell hard.
Now it is has come back to the 4.236-4.618 band.
Looking for a bounce to next 1 or 2 bands higher.
Elliott Waves indicate one more leg down perhaps.
If we are in wave 4 of 5, then next entry is the 3.618.
This sequence started with an Impulse on Jan 10th.
Since then every...
The most recent break below 110.5 indicates that this sell-off towards the end of the Fiscal year is looking impulsive in nature. This is a result of combination of flows from Yen repatriation for the FY end and risk-off via Central Bank uncertainty, Brexit and Meuller (now cleared).
Any pullbacks towards 110.2 and 110.5 should be considered corrective and...
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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