Dollar-yen
USDJPY LONG IDEAWatch out for price action in blue box for rejection candles to enter long (bounce from 200 and 100 MA would be great). I think price is currently making a correction after a bullish move that broke two downward trend highs.
breakout failuretrend is in transitional phase so it's hard to tell whether it's a continuation or the exhaustion point of first impulse leg
Technical Tuesday - USDJPYWe have the USDJPY in a massive over exhausted downtrend on the daily.
Technical:
Daily bullish wedge.
VERY long term trend line rejection after Brexit
VERY key support line from 2014
Deceleration, failure to break brexit lows
Doji candle on Friday 8th July
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USDJPY: Critical level testedUSDJPY has hit the previous monthly uptrend mode, and is currently stuck inside this zone. It would be a colossal feat, for Yen bulls to drive the pair under this key level, so I will watch it with keen eyes during this week. I'll update the post with intraday and daily/weekly charts as needed. It would give us clues about the future of the S&P500 and Nikkei, if we see the smart money players start to accumulate long positions again.
After Monday's close, I'll add a 'Brexit key level' to the chart in an update, and will monitor price action closely from here onwards.
I labeled a monthly downtrend signal, as per the 'time at mode' method, comprised of 7 months worth, and a price target that was exceeded already. There are 2 bars left for this decline to potentially end, and send USDJPY back up to the highs, unless yen bulls are strong enough to push the pair below support. Keep your eyes wide open, this is a really significant level, and from here we might get a terrific trading opportunity once the direction is clear, wether the downtrend ends or it continues further down to the 2011 lows.
Check out my updated track record here: pastebin.com
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Cheers!
Ivan Labrie
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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
LONG IDEA USDJPY (LONG TERM)This monthly candle is important for this trade. It's a retest of previously broken downtrend. Long from here to target higher high. SL below this monthly wick
Short idea USDJPY (Short term)Daily: LL, LH
4H: LL, LH
1H: HH,HL (corrective)
I would like to short at 105.3 ,105.8 area. Watching PA at those levels
USDJPY END THE DOWNTREND??the trend continues downward and has not passed the level fibonacci 0.786 indicating that could be the support hga the price change course but if this in an hour break that level I think there could be a continuity to the next level which it is also a strong weekly resistance.
Guess who's back....Abe is back..Political pressure no longer exists.
JPY plunge a main priority for Abe now.
BUY STAWKS (Part 2)Global stocks bounced as expected. Higher highs on their way.
SPX - 2150 / 2160
DAX - 10380 / 1399
USDJPY Good Short EntryA small Head and Shoulders is forming on USDJPY that may provide a good entry for a longer term short. Short term TP at $109 while longer term TP is at $104. A stop hit right above the top around $109.75 would invalidate this trade.
The pattern shows up clearer on lower time frames, however 15M was the lowest it'll allow published.
USDJPY - WEEKLY ABC CORRECTION: 5 WAVES DOWN FOR C-WAVE.Counting waves. Supports & Resistances on chart.
Happy trading!
NZDUSD LONG 4H 4.25.16 Hello traders, I am back with another trade for all of you. This one I have put quite a little bit of time into and I think I have a fairly good forecast. As you should know nzdusd has been quite bullish for the past little bit. I always try to trade in the direction unless I in no way can. Anyways, according to my trendline, the kiwi is getting ready to shoot back up again. Also, when looking at the stochastic, you can see that there is currently bullish divergence. One more thing that sells the deal for me is that the 200 day moving average is currently below the pair which commonly can act as structure which gives me a good spot to place stops. Don't expect a move all the way up to the next trendline in this leg but I feel that just under the .236 retracement is the best place to take profits. Thanks all!
USDJPY - Major Supports & Resistances.Heikin Ashi works well on Yen. I wonder why.
Happy trading!
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Long On AUD/USD BUY BUY BUY!!!Long term trade
Nice continuation setup
higher highs
higher lows
daily showing signs of bullish price action
broken key level and signs of a push higher :)
Many other reasons but keeping this one short
