D-uj
USDJPY could hit between 111.20 and 112.93This pair was in a long running consolidation of wave B after a strong impulse up in wave A.
The wave B could have been finished already and we are heading north now.
The breakout above yellow resistance is needed.
Target is between 111.20 (C=0.618 of A) and 112.93 (C=A)
USDJPY Short- Retest of SupportEntry - 109.75
Target - 108.19
Stop-loss - 110.53
Short position at the daily 30EMA (green line) and an area of previous S&R (light blue line). Following the 30EMA and 200MA crossover and breakdown at the end of December, USDJPY formed a bear flag. The potential problem here is that long monthly wick from the 104.7 level, but I'm looking for a retest of the 108.1 area before another move higher.
-Zedro
USDJPY creating an inverted H&S pattern? UJ seems that is respecting the little trend line, but I think it will break soon. I am seeing a nice inverted head and shoulder pattern to continue long.
We will be looking for long entries on monday on the right should which is also located in the 38.2% of Fibo.
Let me know your comments about this pair.
UJ Seasonality directions Sep 14Doubts about where the market will be heading the next few days? Here are my view on this. Don't pin me on it but I have spent quite a few hours/days/weeks/ if not months on UJ and UJ seasonality so I'm pretty confident. Nevertheless you never know if the USD raging bull got himself a new tool early for christmas and is capable of pushing over macroeconomic cycles of the two for long largest economies on the FX market.
Also, never too often to repeat this, so manage your risk properly and consistent!
Happy trading!
Arnaud