two options....USD JPYFinished with a shooting star, USD JPY has attempted to break line on the chart a few times with no success. I do think we are over brought and need to now come down to either keep going down or try again going up....
Dollar-yen
BIG area of resistance getting approached by UJ Nice short setupWe are approaching a big area of resistance and a nice shorting opportunity could come into play if we get a candle confirmation! Trading doesn't have to be difficult just look left and see where price has previously respected... you can see my TP 1 which offers nearly a 2-1 and a TP two with a trailing stop could see you a 4-1 RR...
USD/JPY LONGAfter breaking the weekly resistance trendline price found resistance at around 114.000, retested the weekly resistance and looks to be back on its way up. From the 1H view we can see that the bearish trendline and previous short term support (in blue) has also been broken, triggering a long position for me. I could have waited for another retest but we will see how it goes.
Short near 114.40...Long if breaks 114.40DXY and USD JPY both approaching resistance, which for both has been tested a few times. Will be interesting to see if both can break that resistance. How strong is the dollar? Time will tell
USD/JPY price is ranging after hitting the daily resistance trendline and breaking downwards o/s the ascending channel. I am expecting further drops once price breaks out of the short term wedge.
Selling UsdJpy speculating on a double topI am seeing potential for a fall. Entry, stop, target shown on the chart.
USDJPY - 1D - Range FoundIf you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message!
Underlying: USDJPY
Time frame: 1D
I was just looking at the USDJPY and noticed this range. Not sure how I have not spotted it sooner... We are currently at the top of the downward trending channel. Could be two possibilities here, we break above it (which if it does happen, will not last for long) or get rejected and head down closer to the bottom of the range.
Thought I would put this out before the weekend begins. Could be a nice proxy for getting short the stock market as when USDJPY declines the stock markets tends to do so too.
USDJPY 25.09.17
Trading at 111.990.
Hovering between 112.200 and 111.900. A close above either of these levels will be an ideal signal as to where we could be heading over the week beginning 25.09.17.
A close below 111.960 will mean a retracement towards 50.0 Fib Level (111.00)
A close above 111.200 will see buyers target 112.600 - 112.800.
Major resistance coming in at 112.600, price was unable to break above this level last week.
In my opinion I believe price will retrace back towards this level before we see any major moves to the downside.
108.000 currently major support level for this pair.
USDJPY Price broke out of consolidation, found support at mid range and bounced back up to either retest or head back up. I am favoring a drop to the downside for this trade due to multiple technical factors. The first target will be the most recent support zone.
USDJPYOnce again price is struggling to close below 108.800, price has been descending in a channel and a break to the upside will trigger a long position.
Sell the breakout-USDJPYPrice rejected a resistance level (110.60 aprox) in a 4H timeframe. UJ is doing a bullish movement with low volume, wich could indicates a pullback movement. Price is below MA50 in 1H time frame. Also, this pullback respect 38.2% fibonacci retracement. We should wait for a breakout to open a short position.
USDJPY on the up again - Inverted Head and Shoulders Pattern?Few key areas marked out here on this pair. Possible Inverted Head and Shoulders pattern here with just the rest of the right shoulder to form. Stops relatively tight if we get in on this soon. I would wait for a break out of the consolidation red box I have marked as there seems to be some indecision.
First target would be between the 0.50 and 61.8 fib levels and then look for a pull back and possibly re enter on the push back up to the 114.00 level?
USD/JPY Trump Fundamentals After last weeks NFP results were positive and price action looked good to support the fundamentals I was thinking longs for USD. Of course this was not the case as we had new fundamentals break that stated issues between North Korea and the USA. Important to stay flexible and keep up with news as things can change quickly and the bear trend continued, infact it actually picked up after breaking the major support.
So here are my new zones and ideas for this coming week. I have plotted my major zones as seen, I think price could stay within these zones for a period of consolidation before it finds new direction. The support zone is a major one and if broken we could see price start to fall a lot more throughout the rest of the year. However there is still a lot of news this week including FOMC statements midweek. So should be an interesting week nonetheless.
Up then down....USD JPYLooking at the chart, a double top has been formed at the 114 area and a neckline at the 50% Fib level of 108.80ish. It's yet to break this 50% 108.50-80 Fib level and we've been left with what ALMOST looks like a bullish hammer close! Although the candle is red..lol. I do believe this will go up to test the 38.2% (111.00) fib before visiting 106.50 IF it's breaks the neckline.
USDJPY BUYING RIGHT NOW RIGHT HEREGood luck to you all. Bulls managed to break the downtrendline, and formed a base on the multiweek triangle bottomline.
I am seeing upside in the coming days for this pair.
Blessings
USDJPY 60Price in a downtrend making lower highs & lower lows.. Price currently under weekly resistance zone (111.000). If price stays below this zone we will see more to the downside.. If downtrend line/resistance breaks, price could push to the upside.. Bearish outlook still!
USD/JPY - Daily OutlookUSD/JPY encounters strong support level
Contrary to expectations, the weekly S1 located at the 110.11 level proved to be a very strong support barrier.
Namely, it managed to neutralize multiple attempts of the currency exchange rate to slide downwards, including the 34-pip fall that happened in the middle of the day, under pressure from the 55-hour SMA. As soon as the pair made a fully-fledged rebound, it started to climb upstairs, crossing the above 55- and 100-hour SMAs.
Most likely, the surge will be stopped somewhere between the 111.00 – 111.20 levels, as they represent a location of the combined resistance level formed by the 200-hour SMA and the weekly PP.
On gradual decay of the upside momentum also point out certain technical indicators, suggesting that strength of the uptrend is coming to an end.
Buy to 111.80 USD/JPYI would probs buy this up. There is some strong resistance at 111.80 which has proven to be strong support and res. in the past. Will have to see how the data goes this week!
Buy to 111.80 USD JPYI would probs buy this up. There is some strong resistance at 111.80 which has proven to be strong support and res. in the past. Will have to see how the data goes this week!
CADJPY WeeklyInverse head on shoulders pattern here on the weekly, price over resistance level (89.200). Now waiting on a 4 Hour candle close for conformation.. Very good opportunity here lets see how it plays out.
USD strength- Trend continuationAfter a positive NFP report last friday USD turned up on confirmation of Yellen's previous hawkishness and indication that the economy is progressing. This week it seems like more of the same. We broke through a bearish trendline to expect more upside. We could see a pull back to retest this trendline/support but there seems to be a nice supply zone around the 115.00 area that seems to be a reasonable target.
