USDJPYWaiting break this resistance and buy on retest.
It's A possibility to make profits.
Attention please. It is not a forecast, I`am just wondering if is possible.
Forex-usdjpy
USD/JPY short-term shortWe are at a historical high and low. There should be strong resistance here, as we've seen over the past few days. A small pullback is in order before we can go higher. Target 110 as it is the 9 day EMA bounce point.
Usd/Jpy : Looking for a break of the trendlineThe BoJ event finished a double three corrective pattern in usdjpy and price is now ready to go higher. Look for a break of the trendline for confirmation of the uptrend which should eventually go above 104.30.
Narrowing price range, upcoming trend breakout and opportunitiesBuy or sell according to trendlines but it wil go under 100.500 a few days later and go UP for a long time.
Possibly a long consolidation period | Weekly chartHi guys;
As human nature like simplicity, a long consolidation period due to being the price around 100 is highly possible. It will move up or down but, after a while
Swinging both ways (not that there's anything wrong with that)We have two pretty good options on USDJPY, a break above 102.50 could take this up for a quick move into 103.20 and even 103.50. However if this holds below 102.50 I'll be looking for the larger trend line break around 102.00 and a move into 100.00 and even 99.00.
I'll take this either direction, if either break puts up a fight I'll exit quickly with small losses.
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USDJPY: The fight of central banks This is almost like an arbitrage. Why? We can expect FED to not raise the rate hike especially after the durable goods data release today was apparently not good putting pressure on the central bank to remain dovish. In addition the BREXIT effect is still in effect. Plus, tomorrow we have BOJ rate decision which we can expect them to remain either stable or cutting the rate even further which I believe is the latter due to a possible new stimulus package by the government. Even if they don't cut the rate US's rate is higher than the Japan's rate anyway giving an upside momentum to USD. If we look at the graph, we can see that the momentum is there; there was a strong uptrend in USDJPY before this and we can expect the movement to continue its prior momentum.
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USDJPY. Strategic longPair USDJPY has sucessfully made my targets for 1-2-3-4-5 Wave count. This count obviously can be wrong but, for now, looks like it was done well.
Little by little I´m starting to buy USD against JPY. The final targets are high, around 122-125 figures. Please notice the movement down can still be cntinued as 161% fibo level is below 100 figures! And no signs of intervention from BOJ. For now...
I will place my Stop Loss at 99 figures
So, first trade:
0.5 lots bought at 103.8, target 122
SL: 99
Trade with care! This is a very risky but, for me, worthy one!
USD/JPY - Bearish Engulfing Candle Retesting Trend LineA great bearish engulfing candle formed on a nice retest of a long term bullish trend line after breaking through back on 03/17/16.
Intraday charts showing bullish pressure being broken down and the bears completely taking over.
Easy 1:1 RR to the recent lows and from there price could dip all the way to 106.00 for closer to 5:1
NFP coming up can stir up some concerns, but im trading this completely technical.
Forex Market Analysis - 7th Feb 2016
The primary trend of USD/JPY is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is below 200 day SMA and 50 day SMA indicating downtrend of the pair. It is having an important level of 116.80. If it breaks its trend-line (black line) on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
If the pair breaks the level of 116.81, then we can expect it to test the levels of 118.
INDICATORS:-
MACD is sustaining in its negative territory although has crossed on the daily indicating a change in trend in the pair.
RSI is leaving its selling zone indicating the upcoming bullish trend in the pair.
STRATEGY:
USD/JPY is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
Please like and comment your ideas and good luck! :)
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#USDJPY Short Setup In ActionHigh probability that we will test 117.00 and maybe 116.500 if this 1h candle close below 117.700!
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