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Uj

USDJPY (UJ)Hello Everyone! Time for USDJPY "DUH DUH DH" So I'm expecting the price to Drop mainly because the overall trend is still down. This is a confirmation which means I would not short the market. - I can see the 0.618 fib which was held previously. - This might a pull back but It's a good place to look for entry guys. - There are more market gaps to the upside as it is on a downtrend. - Need to look out for the market gap on the downside too. - As you can see the order were filled and price pushed up. - If the price break above 107.900 I would consider this trade to be invalid but I would risk less on this trade (which is 0.5% ) *This pair can be easily influence from the news* Thanks for positive message and feedback. I hope all of you are doing well and let's kill the market and be victorious. Remember there is always a reason why price move the way they move. You cannot be always right but you can have advantage over the markets.
Long
by AyDevilss
2
Elliot Wave + Divergence Supporting Bullish Move on USDJPYUSDJPY moved down in three waves (a)-(b)-(c) from March high. The decline in wave (c) unfolded as an ending diagonal pattern which usually indicates that the end of a trend. The Elliot wave guideline on trading ending diagonal suggests that the price should move at least to the start of the diagonal. In this case, the start of the diagonal is 109.379 marked in black. The wave count is not the only evidence that supports taking a long position in UJ. Prices and MACD had been diverging since April - an indication of decreasing downside momentum, signaling a weakening downtrend. So, a bullish Elliot Wave pattern combined with a bullish divergence makes a stronger case to long USDJPY. What's your view on USDJPY?
Long
by Veejahbee
4