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.
Dollaryen
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.
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.
Long Opportunity July 7th - 2020 - New York SessionLong Opportunity July 7th - 2020 - New York Session
Here after review on the higher time frames I have found reason to anticipate a bullish day for the USDJPY currency pair today July 7th, 2020.
Going into the New York Session I have found a demand/support zone along with price action indicating a significant rally approaching from the 107.500 level.
My target today is 107.900-108.100
*Idea Taken From Raoul Pal* - Confirmed by Huge Inv. H&SRaoul Pal has been a screaming dollar bull since I've been following him, and his methodology and process are so logical. Global dollar shortage is fuelling the dollar strength and USDJPY appears to be in a staggering inverse H&S that has been in play since... the start of the Millenium. I'm already short EUR, GBP, and AUD vs. the Dollar, but looking to add JPY now. Focused on a break of the daily trend line at 110.00 and then resistance at 125.00. From here, 150-180.00 isn't too far away.