D-uj
USD/JPY LONG IDEA This is my take on USD/JPY, I believe that it is going to head up towards the downwards trend line before heading downwards again, oversold on 4hr RSI and this upwards movement would give USDJPY chance to finish filling the start of the weeks gap. Let me know your thoughts on this :)
UJ - 30/4/19Been looking at this downtrend, once price hits that trendline, I'm selling as long as price respects the trendline.
If you are part of my free telegram channel, you would have seen that I have been anticipating the sell at 112 area (black arrow pointing down). However, we had a 39 pip draw down in which small accounts may have been stopped out (fakeout). As you can clearly see price has sold and if you entered when I sent that trade, you would be in 50 pips profit. To join my free telegram channel, head over to my twitter (in bio) and click the link in my pinned tweet.
UJ - chance to BUY with target 114.5
Support and Resistance: Resistance W1 (pink) + Resistance D1 (blue) + Upper Edge Channel (Zone 112.4)
Supply and Demand: Last Supply (D) + Lower Edge Channel (Zone 111.0)
Forecast: Price up to Zone 112.4 (Resistance) and down to re-test Last Supply (Zone 111.0). After that Up to break All of Resistance (Resistance with so many TOP) zone 112.4. And target to 114.5 (Re-test Old Top)
Risk: Price break zone 111.0 and Re-test Supply zone 109.0
=>> Waiting Price Action Up
If break channel ==> review