Plan A: Once Reaching Around 155.20, Observed the reversal pattern, such as 4H bearish harami, 4H bearish engulfing, Long shooting star to enter the short trade. At least 1-3 profit target that can be set separately as T1, T2 , T3. Plan B: What happen if no reversal pattern found : very simple continue to Long.
The dollar has been very strong versus the Yen lately. Price has reached yet another high and i believe its like to retrace bearish. The sellers have stepped in a provided some indecision and buy exhaustion. The blue 8 exponential moving average crossed to the dowside below the 21 simple moving average and price began a minor downtrend. This usually occurs before...
The USD/JPY daily chart shows a bearish divergence pattern as prices surged to new 20-year highs this week, while the relative strength index (14-day RSI) declined significantly from overbought levels. The Moving Average Convergence Divergence (MACD) is nearing a bearish crossover, as the MACD line (blue line) is sloping lower and may intersect the signal line...
Hello Folks, The Dollar-Yen pair has been rallying quite strongly since the last couple of months due to tension between Russia and Ukraine & now with the Interest rates cranked up to 75 basis points, the Dollar would gather more strength for the Bulls. But with Technical Analysis, we can see that 3 peaks or 5 waves have been completed and there can a strong...
After last night big bearish move and the first bearish daily candlestick, Price is under broken wedge top and ready to goes down after complete AB=CD pattern. The stop loss is so obvious, its above broken wedge, Risk reward is so logical, So, its time to short dollar VS yen.
A fakeout (false breakout) signalled by a bearish harami candlestick pattern just above the 125.402 horizontal resistance level has just provided a selling opportunity for the USDJPY currency pair. A reward-to-risk ratio of above 4.00 is possible with stop loss at 126.005 and target at 123.531.
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*Disclaimer* This is not financial advice. Forex trading is risky. Trade at your own risk. #Trade_Like_A_Magnate
USDJPY (long-term) $ vs ¥ The market has been moving sideways since a bullish impulse in wave ((A)) finished. It seems like a wave ((B)) is taking the form of a triangle . So wave C of (D) is finished. If correct, the market should continue to decrease towards the pattern’s lower side to a wave (E) , in the coming months.
Traders confidence has fallen since the Federal Reserve surprised markets last week by being unexpectedly hawkish. And that has boosted the US Dollar all round and, while it is now off its highs, it continues to look firm against the Japanese Yen. The price is in a parallel channel and has reach the peak and found resistance. There is a warning signal though from...
USDJPY - 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...
Key Trading Plan: i) SHORT to its support level of 92.5 and even lower to 91.2 ii) LONG if the price breaks the resistance level of 94.4 to the Take Profit Target level at 95.4
Dollar-Yen has been able to break the trend line, now waiting to retest and continue its downtrend. Good Luck
5 Elliot waves to upside... Daily Bearish engulfing a signal to short.... Elliot wave A,B,C Correction??