Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 149.63, which is a pullback support.
Our take profit will be at 150.75, an overlap resistance.
The stop loss will be placed at 148.60, which is a pullback support level.
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USDJPY
Pivot 150.080
- If the price is higher than the pivot, Long target TP1 at 151.490, TP2 at 151.890, cut loss if the price is lower than the pivot.
- If the price is lower than the pivot, short target TP1 at 149.650, TP2 at 148.710, cut loss if the price is higher than the pivot.
***Please money management***
Following the simple pattern of Elliott's wave, seems the USD/JPY reached its peak as indicated on point B, Arguably, point C is going downward. Everything is possible account for the fiscal policy, inflation rate, policy of central bank, etc.
Disc On
This is daily chart. Use stop loss
I use elliott waves and fibo
I think wave C as correction will start now
tell me what time chart do you prefer
And what is your thought
Based on the strategy, 70% chance of success. We usually have a price reaction or return after reaching the target. The strategy is personal and allows buying or selling only based on the shape of the candle
USDJPY had a big push today, looking an exhaustion to around the 50% to 61.8% levels to carry us up to the previous highs in November. If this move does not re-trace all the way back or gives no conformation no trade will be entered. This not advise trade at your own risk let me know what you think of this set up.
Major structure broken and the BOJ governor made dovish remarks
I believe its going towards all time high again in the coming weeks
Hit like if you agree!
Carpe Diem!
As we can see price is near major daily resistance zones like 150.00 and 152.00 and we are expecting heavy dump soon after sell pressure from these resistance zones also, the previous support trendline now is one of the major resistance zones ahead.
DISCLAIMER: ((trade based on your own decision))
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Hello Traders !
On The Daily Time Frame, The USDJPY Price Broke The Resistance Level (148.522 - 148.020).
This Key Level Becomes a New Support Level.
So, I Expect a Bullish Move.
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TARGET: 151.150🎯
To go off my last posted idea, I’ve extended my TP to near the resistance area of 155.000. From what I can see on the weekly timeframe, price looks to break the resistance area of 152.000 and make a new higher high.
From what I can see, price has finally broken the resistance area of 148.750. With this, I’m expecting a bullish run to the next major resistance area on the 4H timeframe, after price pulls back for a retest of the previous resistance.
The dollar is strong and continues to be strong, and the Japanese yen is weak, giving an upward trend for USDJPY, and the CPI news supported the dollar today, so there is a continuation of an upward trend for USDJPY
We have smashed usdjpy twice.I'm waiting for price to reach the blu line ,but if price go above 150.586 than ill go long again an sl will be the lowest point of retest (15m).If price go down to blue line than ill update the chart again for a new entry.
The pair just landed on a monthly support. It makes sense, the dollar index is also landing on an important demand area and the JYP is losing value. Check my previous post about this pair in the monthly timeframe. I just opened a long position, I will accumulate on the upcoming days.
