Dollar-yen
Neutral on USD JPY. I think a drop as GOLD is heading up..Watch the circle on the chart for a break. My prediction is GOLD is heading up, to at least 1300. Meaning USD JPY is likely heading down. But you know how it goes, things change.
UJ To follow descending channel?We saw a week with a lot of bearish breaks but overall slow movement on this pair. Reaching lows in the 110,900 region and highs in the 111,700 region (approximate). I still believe that this pair will respect the downward channel it has been in, clearly shown by the rejection of the descending trendline on the daily chart. There is a possible bullish movement on the cards as we can see by the shape of the MA's which could mean some upside to the weekly resistance. Keep an eye out for a break and close above that trend line.
Overall I feel that this pair will follow its descending channel and experience a good amount of downside with some recovery here and there. Those looking to short the pair should keep an eye out for the best entry times.
USDJPY NeutralPreferably shorting but at current market area, a small consolidation is likely possible.
USDJPY Looking At 3rd Elliot WaveWhen looking at the daily time frame we see that there's a nice narrowing range, when the price breaks out of it we can see a 3rd Elliot wave. The 3rd wave is known for breaking the high of the 1st wave. Which is at 114.26.
Stock Rsi made a nice bullish crossover but the ADX isnt convincing yet.
A buy entry might be a bit to early, but when the lower range breaks its a clear sell. So if you buy it then place a stop loss a bit below the lower range. If that range breaks then sell it for 104-106 as target.
USD/JPY- Short trade setup Last week we saw alot of consolidation in the range between 110 and 111 areas. This was expected as we were in a strong daily range and NFP news was approaching. NFP news dissapointed as expected and cause USD to fall rapidly to where we find ourselves now at the bottom of the range and with strong bearish momentum fueled by fundamentals. I think we can see more downside and a possible breakout of this range with targets in the 109 area. Currently major timeframes are still showing Lower Highs being created so the trend is still intact. The fed is still expected to raise interest rates at the next meeting on June 14, however, the September meeting which was looking like another rate hike is now in question.
USDJPY - MAJOR BREAKOUT TO THE DOWNSIDE - SELLING RALLIESI like this setup, this breakout to the downside is very important in my book.
I will be looking to sell moves into 110.20/40 area and place my stop around 110.75 as shown on the chart.
Target should be at least 109 and also an extension into lower 108'ish is very likely.
For now i am waiting for a correction higher, i will update this idea as the market develops.
Thanks for sharing and following.
Blessings to you all.
First idea on USDYEN + Weekly, Daily, H4First time doing analysis on other pairs either than what im used to > USDZAR , EURZAR, GDPZAR...
USDJPY- Safe haven Yen continues to rise. Major news and fundamentals coming into play within the next few weeks. Continuations of a weaker dollar is still the motive until US data improves- this weeks NFP being the first shot.
Anyways.. price has been consolidating in a few minor ranges within the major range of 111.500 and 110.500. Last week we broke an ascending channel in accumulation now waiting for a retest of the trend line for the best possible RR after the bounce from support.
USDJPY - FIVE WAVES CONSOLIDATION IDEA.When ABC is not enough to correct, then it shall have 5 waves: WXYXZ
Happy trading!
SIMPLE SHORT LONGTERM TRADE! Just my Idea on this trade. Im allready in with 1 position and I think I'm gonna ad another one. I like to hold trades for a longer time. My target is the 103. area but we'll see, as there are a few support levels ahead.
Probably too early on, but a potential Bullish Gartley in play?Check the chart, this is a very early analysis therefore I wouldn't trade it unless confirmation from other indicators, especially as Trump news is everywhere you look!
EURJPY - PATIENCE YOUNG GRASSHOPPERHey guys. So here is a harmonic pattern in the works.. this is a huge weekly pattern. you can pretty much ride it to the sell area 134-137. From there we will see a (insert Donald Trump voice here) HUGE down ward correction. Thus completing the pattern. Keep this one in the back of your head. either ride this bad boy to the top and then sell or wait for it and then sell. GOOD LUCK GUYS
USDJPY LongBelieve price will drop to test support level of 111.92 area. But will bounce back to upside to test resistance level 113.67. If break price will head back to the 115 area.
Dollar Strenght against JPYWe've seen the price reject in the Daily level. Nevertheless we had the obligation to take a long before the close last week.
Price has formed a perfect breakout and we are trading it.
Bearish 5-0 USDJPYHere we have a bearish 5-0 on the dollar-yen. Price is in a downward channel which has also provided a reciprocal AB=CD within the same pattern; the AB and CD waves are completely symmetrical. Price has already touched the 50% retracement and has began to stall- I have taken a short position and will hold until 108.3. My original stop loss was at 112.7, but decided to round it to 113. The only way price will touch 113 is if it is going to be broken! Price is at a key resistance point but I have gave breathing space for price to pivot before dropping or hitting the top of the cannel.
Rec. AB=CD Ratios
C: 1.13-3.618
D: 0.382-0.886
5-0 Ratios
B: 1.13-1.618
C: 1.618-2.24
D: 50%
USDJPY short trendline + key level rejectionIn history there is a strong move down, but this retracement is not strong enough at the moment. Looking for 2 possible setups:
1. Strong momentum up towards the trendline , good healthy rejection and break of the countertrend.
2. Strong momentum up towards the 110.05 level, which is a strong psychological level too. Want to see healthy rejection there and break the countertrend.
Option 2 would be the strongest setup
Will update this idea when one of those setups are formed
USDJPY Short Setup off RetraceUJ seems to be rebounding from the top of bearish channel.
SL set at resistence above 109.8
first TP set at cross of centre line
EURJPY WATCH THAT WEDGE BREAKTodays setup i am looking at.
Euro after yesterdays frenzy is still weakish before the french election.
I believe EurJpy should be a solid and better Sell play than EurUsd.
The Jpy is still seeing good demand in this times of uncertainity.
So i am watching this wedge to break for the next push lower.
Blessings
NZDJPY intraday LONG setupLooks like price is bouncing on a weekly and daily level.
Some great intraday set up has formed and after this weeks losses I need to recover back to BE the month.
USDJPY Between 200MAs and a broken channel April 17-21OANDA:USDJPY just had a breakdown not only breaking the weekly 200MA but also the lower support channel but nothing goes in one direction in the markets so I expect a pullback before another move downwards.
The price is currently between the daily and weekly 200MA so I expect sideways action with a slight bullish bias in the short term. It will be
Daily Fibonacci:
OANDA:USDJPY bounced right at the 50% mark at 108.11 so bulls should have a relief bounce for a few days.
4H Timeframe view:
Unless news or events comes that will cause the risk off to end or strengthen the dollar I expect consolidation between the daily 200MA support and the broken lower channel that should act as resistance. Its also possible that there might be a spike upwards till the weekly 200MA but I dont expect it to break as there should be a lot of overhead resistance on that area.
I still expect OANDA:USDJPY in the long term especially with its correlations have broken their respective supports reinforcing the trend.
Nikkei Daily:
US 10-Year Daily:
Entry: 109.4-110
Stop: 110.6
Profit: 101-103
Any feedbacks are appreciated!
Bullish candlesticks around EMA200Yen has shown it's weakness in the last days and two bullish candles (two pin candles) around 110.00 mark this level as a strong support. Furthermore, the approaching EMA200 could provide some more confluence for a bullish technical entry.
