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USDJPY LongNow that we have seen a resistance level form we can begin looking at a potential level to go long on USDJPY Should we see price close about this level, I will be looking too take a long with correct risk management and ideally a 10pip range. To re-iterate what I have said the past few posts, this is END OF MONTH which means market moves a bit more weirdly than usual, so always be careful and keep an eye on it so you can react and protect your losses/gains at a moments notice. If you like this trade please give it a like and follow as it lets me know my ideas are helping give insight to others :)
Long
by FriesianFX
USDJPY - Daily - Supply and Demand simplified Usdjpy - Daily chart - Bearish reversal scenario explained in a simple way. After price had rallied for a prolonged period, there comes supply that starts taking out the previous demands (higher lows, trend line support buyers etc). This supply (Daily highs) broke the trend line support and broke the previous higher low support. After breaking these supports, price usually comes back upto the supply zone to fill all the unfilled orders then moves lower again.
by abm-trading
$USDJPY - Testing a major support/resistance zoneHi guys! 👋🏻 🔔 The growing number of new Covid-19 infections redound to new public restrictions and State of Emergency declarations in Tokyo, Kyoto, Osaka and Hyogo. There are protest in Japan against the Olympics. Interest rate is still -0.10% 🔔 Japan has the lowest vaccine distribution compared to other countries, thus the rate is 1.6% only compared to the 49.7% in the UK and 41.8% in the US. 🔔 The support of $107.7 is very strong, as you can see on the chart, hence, I believe, we are in the cycle of the uptrend continuation. 🔔 There is a strong resistance at $108.45, to continue upwards, USD/JPY has to close above this level. FOMC statements and key notes will be decisive tomorrow. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
USDJPY bullish continuation probable above 106.00This pair has been trending up since early January and we may have an upcoming chance to ride a leg or 2 if we see a break above 106. Looking for daily close confirmation and a bullish price action upon re-test of the level. See below a view of the weekly chart and also why I'm bullish biased. We saw a breakout from a long term descending channel after which, it traded approx. 145 pips higher. Right now it's trading against 106.00 and a breakout looks imminent. If a setup materializes, first target would be that 107 handle. DISCLAIMER: This is a personal view and not trading advice.
Long
by thedailychartist
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