Lower highs and lower lows have formed. Trade the fib cycle to the D leg.
Looking to trade the breakout up to the key resistance zone. With a weakening of the USD last week, looking for the pair to go back up after a deep pullback. Will go long if the downtrend line is broken. 200 EMA was respected last week so long bias. Could possible trade this short if the trend line is respected.
A bounce off this trend line down to major key level confluence with 61.8 fib. Wait for break of rising wedge. Expected upside after this move. May move stops to break even after 50%.
Market is consolidated. Can take advantage of this short.
Will trade up if trend line acts as support.
Short biased on this pair but depending on how price plays out I believe it could go either way. Two trading ideas.
A few possible moves on this pair for the week ahead. Will trade on the lower time frame.
Wait for breakout and retest on a lower time frame.
Rejection of the 1.4000 region
I think price will bounce up from this price zone, possibly to 1.3400.
Lots of confluences Simple trade My charts are a little messy
Short term consolidation Downtrend breakout Possible breakout triangle This is my general outlook on the pair. Will be looking for a nice reward risk setup during the upcoming week.
I am looking for a buying opportunity at the monthly support on this pair.
Waiting for 4 hour close to retest wedge and head up. Simple risk reward set up, buying the breakout.
Waiting to go long on the retest of the trend channel. A falling wedge seems to have formed on the daily so this pair looks bullish in the bigger picture. This is a simple short term trade setup.
On a fundamental basis, the US economy has shown relative strength to its developed peers. Specifically, in the comparison vs Japan, US GDP has shown a growth of 1.9% vs the last reported number for Japan of -0.3%, confirming long term trend of weakness of yen vs us dollar and the uptrend of USDJPY. Technically we seem to be on a consolidation area, exasperated...
Possible formation on a Head & Shoulders pattern. Todays price action closed with a clean Low test candle. Daily price action was decelerating while approaching the support zone confirming weakening Bearish momentum .