Dollaryen
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.
USDJPY - Trade Idea!USDJPY - It had an interesting move towards the upside....!
What a week right! Crazy in the indices and equity market. Little reminder being a trader it isn't a get rich quick scheme....!
Technical aspects:
Pattern: Bullish Flag (At key area on Higher time aspect)
Support: 104.75, 104.51 , 104.15
Resistance: 104.910, 105.10, 105.20, 105.40
You could trade the pull back towards support areas (50-200EMA) Nice target areas! OR wait for the pull back go into long side towards Fib Retracement area, giving a great risk reward. Swing or Scalp - your decision. (Use your own trade plan for further confluence)
Things to keep in mind:
- End of Months flow - Rebalancing
- Weekly Closes further confirmation
The Yen isn't a currency pair I trade often, but I see great potential either direction you take towards this trade.
Key tip: You don't need to always need to be part of the trade or even the market if it doesn't make sense or you aren't feeling confident. That doesn't mean you sit back, relax and binge watch Netflix - There's a lot you can do out there sometimes analysing the market - Watching the market behaviour, reading and researching various aspects of the market is game changer. Discipline is key to become a success trader.
Have a great weekend.
All the best,
Trade Journal
(Just a trade idea, not a recommendation)
USDJPY Long SetupDollar Yen has broken the downtrend line and is currently at a previous support. For long positions the first target would be around the 161% extension.
USDJPY - What is the monthly chart telling us? 2021 outlookUSDJPY - Monthly chart - All trading is a game of supply and demand. When demand exceeds supply, price will rise and when supply exceeds demand, price will fall. Usdjpy is in a monthly downtrend but currently it is trading in a monthly demand zone so shorts are not allowed, we are expecting a pullback upto 107-108 on this pair to take shorts from 108-109 down to 103 again.
USDJPY is entering important resistance zoneUSDJPY has been moving in a clearly defined descending channel since September 2020.
Now the price has entered the resistance zone, so I expect the price to start falling in the next days, maybe after some depletion of the current bullish impulsive move.
I think it is a good opportunity to open short position with a good Risk to Reward Ratio.
Please comment below your current opinion on this pair, all ideas are welcome! :)
analysis usdjpy#105
sell range: 104.205
Targets: 104.130- 104.055- 103.980
Stop loss The first goal: the profit to loss ratio is 1: 1 (104.280)
If the first target is touched (close one third of trades)
Stop Losses Second and Third Objectives: 104.205(Entry Range)
, If the second target is touched (close another third of trades)
And if the third target is touched (close the deal)
$USDJPY - Watch these levels carefullyHi guys! 👋🏻
🔔 Japan has been showing a steady recovery from the pandemic today’s Trade Balance and Exports data testifies. Battered US Dollar Index also supports the downtrend of the USD/JPY.
🔔 Yesterday’s US Retail Sales, import and export price indexes data announced were below the forecasted, more importantly Core Retails sales (MoM) was 1 bp lower than the previous month’s 1.2%.
🔔 On a daily USD/JPY we can witness a downtrend channel that the pair follows. One of the important metrics on this chart is that the MA100 acted as a resistance on November 11, when USD/JPY hit the upper edge of the channel.
🔔Important levels to watch are $103.70, which is a static and dynamic support on a 4H chart, closing below this level will be a ground for another round of sell-offs down to $103.166.
🔔 On both Daily and 4H charts, Moving averages act as resistances and MACD indicates bearish continuation.If there are no tangible signs of economic recovery in the US and the spirit of “uncertainty” remains, the US Dollar against the Japanese Yen might as well plummet further to near year’s minimums at $101.747..
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
USD/JPY 1H SHORTUSD/JPY looks ready to sell off after retesting the weekly high with an inside bar breakdown.
USDJPY SELL H4USDJPY SELL
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TP 1: 104.100 TP 2: 103.950
SL: 104.890 * USE 1% RISK
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$USDJPY - Short this Bearish flag patternHello everyone!
USDJPY continues to proceed downwards in a descending triangle, there should be one final drop before the trend reversal I believe.
Wait for a breakout or short here, beware of the volatility of tomorrows Consumer confidence stats.
DXY looks very bearish.
U.S Dollar /Japanese Yen - in DowntrendHello Friends
******
the forex market US DOLLAR / YEN is in a downtrend after a remarkable uptrend finish at point 105.628
=> so now is the best time for a short position
I proposed in the chart the stop loss and take profit point
Thank you
ATSELECTION
USDJPY in breakout mode. Bearish below 105.40 (UPDATED).Updating my chart to add more info on why I am bearish.
Current price levels also coincide with the measured objective of the inverted H&S formation from the SEPT. 21 low.
Also, looking at the monthly chart the market has broken and currently below a key rising trendline. We just need to clear 105.40 which I think is key to this bearish scenario in the short and/or long term.
USDJPY in breakout mode. Bearish below 105.40.We could be looking at a top here.
This pair has been consolidating since SEPTEMBER 23 and while the preceding trend is bullish (from that September 21 swing low), I am looking for a break lower.
USDJPY SHORT SETUPTrend of the market on the daily is a down trend.
Price had tested the major channel support level which coincides with the false breakout that happened previously.
Currently, the market is at a cluster of resistance within the channel which was previously support for price.
We're likely to see price reject or turn away from this current level of resistance or break it, retest the major resistance level and head to the downside.
USDJPY Cup/Handle, handle wedge is tighteningThe USDJPY Cup/Handle pattern is developing nicely and now the handle is tightening up on the weekly chart, tho it's broken both up and down on the daily, the pattern still holds.
If it breaks up, and is confirmed by a daily close above local swing high, this could be a massive move up on a fifth wave.
USDJPY Trade Analysis by Wave FX Academy (LONG-Target 108.00)Hi Traders, here is my analysis for this pair. I'll be expecting a small correction in the market before the rally to the upside with possible bullish momentum entering the market.
Like and Comment your thoughts . All feedbacks are welcomed.
An entry will be taken only if all rules of my strategy are satisfied.
Add this pair to your watchlist and see if the rules of your strategy provides an entry.
Go long dxy divergence Mobile here today sorry.
Can’t do a detailed post.
Dxy looks a great long here though on hourly divergence, fake break of the double bottom
USDJPY 15min Signal: Decent Dip for a Snap ScalpThere is a potential long entry (scalp) in USDJPY via the 15min Chart (lines highlighted). The break above the neckline (reversed H&S) may suggest some gains are due for USDJPY. It may also support our prior entry in EURUSD that was recently published.
The potential target is 107.35, the support at 107.25.
