Uj
USD/JPY: Don't sleep on this short opportunity Yesterdays setup was very specific and for good reason. Our specific strategy for this short setup yesterday was designed to be able to resist any "fake outs" or simple upside that came from the pair at the key levels shown in those charts at that time. Yesterday's amount of short sellers who're either close to being margin called or already hav given us the ability to jump in with there stops.
Yesterday's failure for price to reject said zones/levels and break, sustain, and close below them, showed both the lack of liquidity, and follow through/ conviction in the market. This can be attributed to a few things, namely;; seasonality. Since then, UJ has pushed up and we can now look for trades in a different setup. It's interesting at the current levels however, making a new higher-high which gives us an opportunity regardless of shorter term 40hr bias. 110 out my upside this week at this point. This is taken into account using options data from Bloomberg. There are a lot of option expiring both in the 110 and 108ish key levels so it's key remember this can go long. I'll place the options data below,
USD/JPY
108.00 1.5bn USD
108.10 603m
108.35 626m
108.40 400m
108.45 740m
108.50 810m
108.65 454m
108.70 429m
108.72 419m
108.75 400m
108.90 532m
108.95 1.3bn
108.96 665m
109.00 891m
109.15 995m
109.50 790m
109.75 540m
109.80 480m
110.00 1.4bn
USD/JPY Higher Highs, Higher Lows....BUT (SHORT) Usd/JPY has a clear up-trend in play, however we approached a important level of resistance where it absolutely melted from this level the last time (RED).
I have two take profit targets, Pulling out the FIBB Retracement tool will be helpful as well.
Enjoy!
UJ buy limit Hi all ,
This trade was one of our premium trades from last week , we bought this buy & now as you can see we are at a point where we bank tp1 , my bias is still long till December, however to get a better price is to wait for price to break current structures marked on the chart . Please don’t open positions based on 5pips movement on this pair . Wait and get a valid direction and follow the trend .
Many thanks
10-23-2019 USD/JPY possible long trade - 100+ pips UJ has formed very ideal inversed head and shoulder formation. I see this as a great long opportunity for a mid-term swing.
DXY is currently sitting above the uptrend line at 97 point level and most likely move up that will drive all USD pairs.
Entry @ demand zone
TP @ 1st Supply zone.
If you are holding the pair for mid-term it will reach 110.XXX area.