Possible reversal off daily trendline and 61.8 fib on USDJPYLooking for a possible reversal off daily trendline and 61.8 fib on USDJPY. I am waiting to see how the daily and 4hr candle act off these areas before entering a short position.
Short-usdjpy
USDJPY SHORT POSSIBILITYShort when reaches 104.606
If it's going up Long at 104.847
Possibility gonna go down
05/11/2016 USDJPY ShortI haven't posted anything on here in a long time so figured I'd post my current trade. This is a very simple setup I have been using for a while to trade on demo accounts and on 1broker. It is a combination of the Stochastic Oscillator as used in Mumbai Scalping set to 5,3,3 And an Ichimoku Cloud. My cloud has been altered to provide me with signals, I never finished writing the script so not every signal is fully trustworthy from it. In addition to these two indicators I use ZigZag as a way of seeing where to draw fib retracements and expansions.
As shown on my chart I have 3 signals all supporting to short. Stoch is about to fall below 70, the Ichimoku Cloud's conversion line crossed below the base line and we are under the cloud which is bearish. And we have hit a 0.618 fib retracement which we've began descending from. Therefore I feel it is quite safe to short here.
My entry is roughly the current price. My stop loss is 109.5 and my target is a meager 106.5
short USDJPYPotential Bat pattern, in continuation of the down trend.
The pattern completes at: Entry: 108.93
Tp1: 108.43
Tp2:108.12
Minor resistance
Short USDJPY Previous Structure Now Resistance Short USDJPY Previous Structure Now Resistance check 15 min for double top and RSI Divergence Lower Low Lower Closed
further Decline expected the price rejected from the previous Resistance level 113.375
compatible with the upper band its also break its moving average
USDJPY heading down moreWith a break of a major support line. A pullback up to 115.500 provides a good risk to reward to sell the pair for lower lows.
Short USD/JPY on a rebound to 115.96Monthly ranging and hit into strong support.
Weekly and daily are in downtrends.
The closest daily level is at 115.96 and the 4H 200EMA is not far behind.
Look to short at those regions. Tier 2 shorts because it coincides with a nice monthly level that's approximately top of range.
01 - JPY rock!!!! USDJPY falling like stoneI think that USDJPY will go south at least around 99.990 before up again.
USDJPY SHORT @ MARKDTHi Traders,
This is our take in SBSTOCK.COM on the USDJPY Market.
Well following a @ 50% fibo plus a mid term resistance level
Shorts might be a good idea for continuation.
Comments are welcome
USDJPY: Potential Bearish Bat PatternUSDJPY: On 15 minutes chart, we have potential Bearish Bat Pattern.
Confluence: Bat Pattern, trendline, resistance, 50% Fibonacci retracement, bearish trend.
ENTRY: 119.571
TP1: 119.271
TP2: 119.092
SL: 119.825
USDJPY trend continuationHere on the 1 hr chart on the USDJPY we have a possible shorting opportunity for a trend continuation trade using the combined technical score trade. I know that the rate decision comes out tomorrow and will probably destroy all of this technical analysis but in my trading i try my best to only focus on technical analysis and not the fundamental side of the market because during my backtesting i did not know when the rate decision came out but it is something that anyone trading this week needs to be aware of. Make sure to double check your stops and targets on all your trades and good luck!
Check me out on youtube to see how i analyze the market and a few tutorials on advanced pattern strategies and structure based strategies!
LINK: www.youtube.com
THANKS again and best of luck in these thin holiday markets!!
