USD/JPY IS SETTING UP FOR A SHORT TRADE - THIS ONE COULD BE HUGEUSDJPY is on the way to brake to the downside. Everything is covered in the video. Enjoy.
Ujforecast
Trend Line Resistance + Double Top+S turned R = BIG SELL I will list the factors that might lead to a BIG SELL on UJ soon.
1)Looking left, you can see that price broke out VERY STRONGLY from the symmetric triangular formation(light purple triangle.) This is a BEARISH SET-UP.
2) The Trend Line Resistance(Royal Blue line) has capped the upside since October'18. And this week as well, it has managed to stop the upside.
3) Previous DOUBLE BOTTOM SUPPORT(Green arcs) was broken strongly as well. Now this area(horizontal orange line) has become "SUPPORT TURNED RESISTANCE".
4) POTENTIAL DOUBLE TOP (red arcs) which seems to have stopped the rally once again.
So, in light of the above-mentioned factors, I will advise traders to look for sell between 111.90-112.10 with SL above 112.55
TPs can be set at 110.90 and 109.80 respectively.
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Bullish Trend Broken! Where will UJ go next?With the impending US economic bust that is about to happen when the Dollar bursts (based upon the DXY and US30), I'm bearish on UJ for this week.
I see it continuing in an Elliot wave pattern to retest its low point from early last week. I want to see if price respects that low point or breaks below it for the continuation.
USDJPY and CAC40 - leading fractalThe French CAC40 index appears to be leading USDJPY by 9 weeks. There is no reason why it should (other than the big macro picture, USDJPY falls on in risk-off sentiment and so do equities). Let's see!
Trading Simple: major trendline breakout! Keep your analysis clean and simple. Vision wise it gives you a better understanding and clear trading plan.
A technical break should bring a long way down for UJ to test support areas. Illustrated are the possible target levels.
Fundamentally:
USD Dollar finally starts feeling the hit of the FED's decisions
Markets worldwide are in a critical situation
People are feeling scared
Gold broke major resistance areas and it is already on a bull run.
Wait for a pullback to enter this trade!
Best of luck.
Follow my channel for more simple trading strategies.
Trading Simple International
USDJPYDepending on how the week opens, I'm looking to short the retace back to trendline support before going long UJ
USDJPY Capture of Remaining UpTrendCongrats to everyone who held a long position on this pair. You made bank. Now for the ones who think it's too late to capture some pips, you're mistaken. Look at enter at the retest of structure for a move higher!
UJ bullish113.000 could be the point of reversal! after breaking previous highs at 111.335, the possibilities of this pair retracing back towards this level of support is likely.
Waiting for a good long-term short entry for MONTHSAs UJ is testing the 111 resistance area. It seems like it can't break it. Overview of the monthly with the kumo twist shown. I'm waiting for it patiently how it reacts to the cloud and my predictions it'll spit it back down to the 100 support level. IF, IF it breaks that support level then the bears will just be in complete domination once its out of that cloud.
Lets have a good trading week traders and lets catch these pips and be another step closer to being a successful trader.
#BullishLifestyle
UJ Buy Set is Approaching As my last post-UJ is Bullish and it will continue, so there is no reason for me to sell this pair at the moment.
Waiting for a 38% retracement, after that, I will look into finding an engulfing candle or a variation of candle formation to start looking into entries.
Sell For Short USD JPY A Rising Wedge is Formed on top of daily Uptrend , so We sell with breakout Confirmation
POTENTIAL UJ LONG IF PRICE BREAKS WEEKLY RESISTANCE AT 108.5LVLThis trade will be valid once price breaks the weekly resistance level at 108.5. If price breaks this zone, it will likely retest this level once before flying up to the higher resistance level at 113. It is better to catch this trade on the retest as it will serve as confirmation, increasing the likelihood of your trade winning. Note, this trade is not valid until the resistance level is broken and retested at least once. However, if this level is not broken, it provides a potential opportunity for a short position.
USD/JPY Price ForecastThe US dollar has fallen significantly during the day on Friday, continuing the down move that we had started on Thursday after Donald Trump announced a tariff on both steel and aluminum. This has put a lot of fear into the market, which of course has people running towards the Japanese yen.
I suspect that most of the reaction in this market will be due to noise and news coming out over the course of the weekend. With the United States let been a 25% tariff on steel, the world awaits to see what the Chinese and the Canadians do. If we start to see a bit of a trade war, it will be interesting to see how the Forex markets react. I believe that safety currencies will continue to be bought at that point, and although the US dollar is a safety currency, it plays a secondary role to the Japanese yen in this scenario. As I record this, we are starting to roll over towards the 105 handle again, which I suspect is the trading market telling us that they don’t want to carry positions over the weekend. Because of this, I am flat of this pair but recognize that we will get an impulsive move that we can react to soon.
The S&P 500 ended another turbulent week on an upbeat note Friday but major indexes posted their worst week of losses since early February as Trump’s threat to impose import tariffs on steel and aluminum rattled investors. The dollar fell against most currencies, dropping to its lowest in more than two years against the yen, as Trump’s tariffs proposal raised prospects of a damaging trade war.
Canadian Prime Minister Justin Trudeau said any U.S. tariffs on steel and aluminum would be“absolutely unacceptable” and vowed to continue to engage with U.S. officials on the issue.
The International Monetary Fund also expressed concern, saying the proposed tariffs would likely damage the U.S. economy and those of other nations.
