USDJPY is approaching its support at 110.17 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 110.64 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 3.3% where a corresponding bounce could occur.
Whenever equities surge the way they did last Friday, under the current market regime, that’s always going to create a supply imbalance detrimental to the JPY. That’s precisely the reason why even if the DXY and the US long-dated yields keep dropping, the pair could find a floor around 110.25–30.I’d argue that as long as the weakening trends in DXY + US30Y stay...
we can see a very nice bearish flag forming on USDJPY, so we can see one more drop to the downside. If price is aggressive then we can hold this all the way down to 100.00 so we can secure some good positions for long term traders.
Multiple confirmations in place for the shorts
Multiple touches on the PRZ
38.2 on fib with MA rejection on lower time frame
Perfect RR of 5.77
If you have any further questions feel free to hit me up on Instagram @hasanrazaq
By Andria Pichidi - February 19, 2019
USDJPY edged out a fresh high, at 110.77, which is the loftiest level seen since Friday, in what has been directionally-limited trading in the forex and global equity markets so far today.
The MSCI Asia-Pacific (ex-Japan) stock index is fractionally lower, although near the four-month highs seen last Wednesday. Market...
USDJPY seems to be in a wedge on the D1 and W1 timeframe. Have been looking for an opportunity to go long in the pair but the previous consolidation surge up too quickly. The latest retracement has brought price down to a suitable entry price and we are looking to long the pair to the top of the wedge.
As noticed last week, the 110 price point was difficult to break.
Now that we have broken it, I think it will need retesting soon.
There are also two short term fibs lined up exactly at that price.
However, there is something special about 110.025.
It is a Ripple born of an Impulse that occurred in 2012 !!
Ever since, any approach towards it gets sucked to...
I am looking for a 12345 or 123 move up then a move back down to sell. This idea plays off the first one. I just adjusted the idea some for people to see an alternative route and didn't want to confuse anyone with the correction risk setup. If USDJPY doesnt keep correcting as high as I expect the turn around can happen earlier than that because of such a massive...
Looking at the main chart it can be seen that the price is confined in a channel which is in a current uptrend! However a small pause is likely to occur before the long term price finds the right direction to trend again.
Looking at the above 4hr charts, there is a rough head and shoulders pattern that is present and a...
The daily Doji at the support zone gave me the trigger to look for longs.
On the 1H a triangle formed and eventually broke out, left a strong bullish candle. That's where i entered longs.
SL under the latest Low on the 4H
TP is the next zone/resistance
I have 1 runner open to go to the 112.2 region