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Bearish USD/JPY Is Preparing for Another DownturnIn this technical analysis I will cover USD/JPY and explain the most important pieces of information on the chart. First of all, especially in Forex, trading with the trend is very important. If we zoom out a bit, we can see an overall bearish momentum on USDJPY. Also, we can see a pattern forming similar to a symmetrical triangle. I expect the price to continue upwards for a little bit until it finds resistance and then move strongly downwards again. I highlighted the important point here with the red breakout circle. If the price goes below this point I believe the downtrend is confirmed and a short trade is appropriate. As for an exit on such a short trade, we can make use of the horizontal support area around the 104.2 level. This will be a difficult level to break and we can already earn about 150 pips holding it from the breakout zone. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Short
by Trading-Guru
5
LONG JP225: A great move to the upsidelet's get into practical details without any bullshit in the beginning... We have some really amazing targets starting with 22750, then 23000, and the last station of testing the all-time high at the level of 24000, but that's not our topic for now, let's take it easy... step by step. We have a bearish trend since FEB2020 on the D1 chart, the price tried to break it many times without a result. but now, we're almost ready to test it one more time with two amazing structures on the H4 & H1. Generally, we have H&S on the H4 chart and it was ready to test the neckline when it made a double-bottom formation on H1 chart, so now it's a great position to open a trade with some small targets in the beginning. Firstly, we are gonna long JP225 with a sl below the bottom in order to test the neckline. 22450 will be a good support to put under consideration when we are attacking the neckline. Secondly, in case of having a successful H&S, we will wait for the confirmation on the H1 to long it again to test the general down-trend. 22750 will be a good support to put under consideration when we are attacking the trendline. Thirdly, in case of breaking the resistance, we will fly without mercy to test the all-time high at 24000 I'm following it with you daily to keep you up to date. Chiao!
OANDA:JP225USDLong
by Amro_Elzeiny
2
Guaranteed Profits with Classical Support and Resistance Set-Up!In this idea I will share a support and resistance trade set-up for USD/JPY. After it found a strong rejection at the 109.500 level the price rapidly found its way to the support zone of around 106.000. Just like at the beginning of March, this zone created strong support and awoke many bulls again. Now that the support zone got confirmed, I suggest a long position for the new week where we monetize the scenario of the price going back to the resistance zone. For this trade I suggest to enter as soon as possible, so enter the trade wherever the price opens this week. The take profit is slightly below the resistance zone to maximize the chances of getting hit. For the stop loss, place it tightly below the support zone to make sure to leave this set-up when the pattern gets invalidated. These trades using support and resistance levels, especially after a confirmed support zone, have a very high chance of success. If you use proper risk management and use the right stop loss, you will be able to earn a lot of money using these strategies. Obviously one cannot 100% guarantee the success of each individual trade, but you can make sure to enter those trades with higher success rate. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
9
USD/JPY Don't Miss This Trend Reversal!We see here that USD/JPY has traded in a downwards channel for more than 3 days straight. However, just before the close last week, suddenly this trend broke and we found an interesting signal of a trend reversal. You can wait for the open first for confirmation, but if the gap is bullish then we might have seen a temporary bottom, and you can long USD/JPY until great heights. I suggested a nice and clean 2.0 Risk-Reward trade here. But if we do find confirmation after the market opens, you could also choose the ride the trend all the way until the end. For trend traders I suggest a stop-loss that you move along upwards every time the price makes a higher high, such that you lock in your profits. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
6
USD/JPY Best Buy Positions While Trading in Strong UptrendIn this technical analysis I will explain my current view on USD/JPY and why I suggest a long position. Also, I will explain what good areas are to buy it now that we are in an uptrend. USD/JPY has been in an uptrend for almost a full week now. This means that buying is becoming more and more tricky. Remember to always try to buy low and sell high. This means that you wouldn't want to buy at the end of an uptrend. Especially if you look at the RSI right now we see an >> overbought << RSI with a value of over 70. This is an indicator that you shouldn't want to buy right now, but instead sell. Since I expect the uptrend to continue overall, I do suggest to enter a long position. The only thing we need to figure out is where to buy now. If we look at the channel, we see that the price is now trading towards the top of the channel. Combined with the overbought RSI I expect that the price will retrace slightly. If it does, this creates a really nice buy opportunity. You can wait for the price to drop towards the lower part of the channel, but also if we look at horizontal support we see a nice S/R flip that can indicate an area to buy. After the buy, you can either hold it for a long time to trade the trend all the way to the end, or exit quicker as soon as the price is near the top of the channel again. I suggest to leave the trade sooner than later, since the whole world and especially the US has lots of uncertainty right now. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
8