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Forex-usdjpy

USDJPY How to TradeWhen the price moved above the cloud, the market became bullish. The price reached 110.00 resistance level, bounced from it now we have a sideway movement between this resistance and 109.00 support. DMI confirms range market conditions. As we have RSI moving upward, DMI which becomes bullish and the price above the cloud - it will be logical if the market continues the uptrend. We should expect to get a breakout above 110.00 which also can be used as a buy signal with stop orders below 109.00 and profit targets at the nearest resistance levels. An alternative model can be if the price drops below the cloud and 109.00 support. The breakout below will confirm the strength of bears. It will give a new sell opportunity with stop orders above 110.00 resistance and profit targets at the nearest support levels.
by DLavrov
USD/JPY vs GOLD: some ideasHi Guys, Looking for opportunities using inverted correlations between Gold and USD/JPY. The idea is that when US dollar weakens, money flows into safe heavens like Gold and Japanese Yen and this is why their moves are inversely correlated. In the above scenario USD/JPY made a clear bottom at 105 on Jan the 3rd. The move has been so fast that economists labelled it a flash crash. Yes it was. But it was also the signal that USD/JPY was bottoming at 105. On the opposite, 1300 could have been a nice top in Gold. But Gold never got to 1300. It arrived at 1298. For 2 weeks the precious metal ranged between 1298 and 1275 (support B). The fact that Gold is now overtaking A means that Gold (in its process of topping) may be still looking for a top higher than 1300. Be careful that this does not mean that USD/JPY will go lower than 105. This post is a follow up of an idea posted on Jan 11 and already updated on Jan 16 (links to related ideas below). Here is the link to the moves made by USD/JPY.
by CozzamaraDaZena
Double Top UJ | R/R 4.15 | MASSIVE 40 pip profitsOn significant resistance level - FX:USDJPY 40 pips in 4.5 hours Doji and a following Bearish hanging man - could have entered here, little riskier but better RR Also could have entered after the Bearish engulfing / completion of evening star after market has shown you were momentum is going at either entry point, very little draw down . much easier to trade with less draw down :) M double top (easier to see with the zigzag) NY DROP for 40 pips Risk Reward very nice taking it down to the next major zone No fancy indicators, just price action and market structure
by beank1
USDJPY Short, Let's try this again...Preliminary GDP Q/Q came out today under expectation a little bit, and the yen buyers were willing to put in a little bit earlier. A strong engulfing bar on 5M (17:00 UTC Bar), with sellers immediately below it, which indicates yen buying order flow (They are placing sell stop entries below that level and subsequent signal bars). There is a 3rd test to the upside on D chart, and I think it's a good short signal for the rest of the week at least- who knows- maybe into next. That price action resistance, combined with the less than positive prelim U.S. GDP numbers I think will be the start of a larger leg to the downside. There seem to be a lot of market making today, at least for a lower volume time like this, at the end of the year.
Short
by Firex8
USD/JPY strong bearish signsThanks for viewing. For what it's worth, I am just pointing out the strong bearish divergence of the price action vs RSI peaks on the hourly (4 touches forming a strong resistance trend-line) and 4 hourly (2 touches). My wave degrees are a bit of a mess but my basic count is that we are finishing up a leading diagonal / sub-wave 2 of wave 2 in the down-move. The swing high of 114.550 is the Alamo - if it gets there I will lose a bit on this trade. My larger bearish view comes mostly from the daily and the lower highs set since the 3rd of October. Let's see how things go. Protect those funds and good luck.
Short
by flyinkiwi10