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Dollaryenlong

USDJPY POTENTIAL LONG FORMATION IN PROGRESSWe have been looking at this pair and waiting for various patterns to form which will assist us to form a basis for the potential direction of the pair. Our trades are based on the higher time frame trend, being the weekly and monthly charts in order to avoid excessive noise of the lower time frames. We can see that the pair remains bullish despite the pair showing bearish price action on the lower time frames, hence we are only looking for buying opportunities until further notice. With this being said we have managed to spot a buying opportunity due to the following reasons listed below: 1: Trendline breakout 2: Double bottom pattern formation. We are still waiting for two more confluence factors to form before we consider looking for entries. These have been listed below: 1: Key-level breakout which signals a change in market structure from bearish and bullish 2: Entry will be on a retest of key level area.
Long
by NDOBObanks
1
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 Sideways Because it Likes Less Steep SupportWhile the Japanese yen had been trading on an upward short-term support line, last week it broke this line. Interestingly enough though, it found another level of support similar to the previous level of support, but just with a bit of a less steep slope. Clearly there is much evidence to suggest that the Japanese yen should be taking a nosedive. Compelling evidence for the contrary as well. But if we are just looking at short-term movement, its clear that for the moment USDJPY prefers a more sideways move as opposed to a strictly long or short move.
by WhiskeyTangoFoxtrot3
USDJPY Short Because Technicals Flash Overbought, Yen Safe HavenUSDJPY has a number of trends going against it to force price action downwards. Technicals and fundamentals are not on the dollar's side against the yen. Traders can see a number of oscillators and MAs suggesting USDJPY is overbought and due for a reversal. Moreover and probably more impactful are the fundamentals of the global economy which suggest major growth centers (Europe and China) are slowing down. US treasury yields suggest we are heading towards a recession and US GDP growth is probably going to be less than previous quarter for the second quarter in a row. Because of this, the yen will be heavily invested into which will partially be a result of institutional hedging, partially Japanese capital flows returning to Japan. While the dollar will also benefit from this, it will probably not benefit as much as the yen in the short term since the US economy is still strong and many in the US still want to be exposed to risk-on assets like equity markets. In spite of this, sentiment indicators suggest the yen is set for a bullish move, but this can quickly reverse. You can find that data here www.dailyfx.com and you can find more analysis of currencies and indexes here www.anthonylaurence.wordpress.com
Short
by WhiskeyTangoFoxtrot3