Short-usdjpy
USDJPY LONG & SHORT SETUP - US NEWSDuring the European session, the US/JPY pair remains stagnant, trading within a limited range just below the significant resistance level of 140.00. The market is characterized by volatile fluctuations as investors adopt a cautious approach in anticipation of the upcoming release of US inflation data.
In London, S&P500 futures have gained as investors hope the Fed will delay interest rate hikes and weaken the US Dollar. The US Dollar Index reached a two-week low at 103.21 due to expectations of a neutral interest rate policy and softening US inflation. Analysts predict May's CPI will remain unchanged, but core inflation will stay strong. The Bank of Japan is likely to maintain its interest rate policy, aiming for inflation above 2%.
Nicola, CEO of Forex48 Trading Academy
USDJPY short There are two possibilities
The first
to make down move to TP1 area and then break the last top
The second
a bearish wave without breaking the top and make correction within TP1 and TP2
In both cases, we are making down move to TP1
I always advise those who have experience and were not able to sell from the top to wait for the retracement wave and can enter the 50%-60% areas as happened in the SP500 chart
TP and SL positions have been identified on the chart
good luck
$USDJPY | Finally A CeilingI think we finally can mark this top area as a massive resistance point for USDJPY as this is it's 2nd go around of a peak and seems to be a free fall. Massive areas of volume have been respected as long as possible but seems like a potential breakdown can occur with little to no air coverage. Could see the gas leaving the rocket ship as soon as it entered the resistance zone. Took a short trade based on RSI and the previous resistance point being respected. Target 100 PIPS with 1:1
My numbers:
Entry: 144.404
Take Profit: 143.457
Stop Loss: 145.417
Currently in profit so moved my STOP LOSS to HALF of current profit. Sitting at 144.170
USDJPY price action short MatrixV Price makes new swing high, retraces at POI 0.78 FIB zone, new swing high, retraces again at POI
Price reaches its target from the first swing high = 2.12 FIB golden Zone
Price failed higher high, break through trendline, CHOC (Chance of character/sign of weakness/break through last support zone)
Price retested at POI
Wait for BOS
GG Ez MatrixV
USDJPY | Hitting Massive Resistance AgainWe have USDJPY approaching massive resistance again (similar to July 2022) and with a slight rejection. Waiting for the come back to the zone area (create a double topish pattern) and a possible sell at a RSI high point.
Nothing complicated here, just rinse and repeat with price action and a target nearing 50+ PIPS.
This is a short term trade as I think the momentum will push USDJPY ultimately pass this zone.
AUDJPY - Flat Correction ✨AUDJPY is showing us a really nice flat correction.
A flat correction consists of 3 major waves, which is broken down into 3(A) 3(A) C(5).
We are currently in C wave, subwave 4. Expecting subwave 5 soon.
Trade Idea:
- Watch for breakdown of subwave 4 correction
- Entry after break of red trendline
- Stops above the highs of the correction
- Targets: 90.5 (330pips), 89.1 (480pips)
Goodluck and as always, trade safe!
USDJPY SHORTAs per our last analysis, USDJPY still has a long way to drop. There are two ways this can play out, first we could see a rise to the 0.3 level before a reversal during NY session. OR, the price will drop a level, but will retest the current level. I will be keeping an eye on the charts. If your short is still open from the last idea, keep it open and enjoy the profit ;)
POSSIBLE CRAZY FALL ON USDJPY ??!All through 2021, we've seen price rise steadily on USDJPY.
Right now, price is approaching a monthly resistance, from which a huge reaction could occur that could take price to 102.00
There's also a shark harmonic pattern in formation.
When the time is "right", we'll be looking to capitalize on this move with a 30 pip stoploss (max.)
Trade safe🥂
Keep it simple ✅