Usd Jpy Short Continuation FX:USDJPY
UJ hitting supply zone and despite all roses and flowers for trade tensions, it still expected to retrace from here
Ujsdjpy
USDJPY BUY at whole level 108Price have been moving between 108 and 108.5 for some time (Quarter points) so when we hit 108 it should respect that quarter level.
SL 20 pips TP 50 pips , entry right at 108
USD/JPY LONG - Breakout to the upsidewe can see UJ respecting market pattern. waiting for a break @108.340 then re test possible 35 pip move.
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USD/JPY Short Idea (5/29/19)USD/JPY Short Idea (5/29/19) 1HR Chart
- Looking at a double top off of the 200 EMA and a disturbance level
- DXY is looking like its going to be bearish so then UJ should also follow
- Looking for price to come down to 109.140
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.
UJ - chance to BUY with target 114.5
Support and Resistance: Resistance W1 (pink) + Resistance D1 (blue) + Upper Edge Channel (Zone 112.4)
Supply and Demand: Last Supply (D) + Lower Edge Channel (Zone 111.0)
Forecast: Price up to Zone 112.4 (Resistance) and down to re-test Last Supply (Zone 111.0). After that Up to break All of Resistance (Resistance with so many TOP) zone 112.4. And target to 114.5 (Re-test Old Top)
Risk: Price break zone 111.0 and Re-test Supply zone 109.0
=>> Waiting Price Action Up
If break channel ==> review
KING Wealth Selling USDJPY Technically At supply zone
Very tough resistances
a break in trendline on daily chart will confirm a short 50 pips should be your target atleast
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 Long term viewAs per my analysis,
1, the uptrend line is holding firm as we haven seen a clear break of our CTL.
2,we saw a break of minore resistance and we are potentially seeing a retest of structure.
UJ could be pushing lowerIf price action fails to break the resistance we could see further downside movement.
USD/JPY SHORTThe USD/JPY currency pair is forming a symmetrical/isometric triangle on the weekly chart, and moving down to the daily, we can see that price has made a major push to the downside already, and and is consolidating and forming a smaller symmetrical triangle too, as i believe it is getting ready to continue with its bearish momentum before it gets to the support zone formed by the weekly symmetrical triangle pattern.
My forecast would be to sell upon the breakout of the triangle pattern on the daily timeframe, which will be quite explosive considering how the price is constricting, probably due to a reduction in the volume of orders.
USDJPY Similar pattern to a year agoIf you look at the USDJPY pattern from last year (there was a rate hike on Dec 13, 2017), a top and then three increasingly lower tops before a strong pullback, it looks very much like this year, 49 weeks later. Supporting this is a mirror fractal (shown in yellow) from the last recovery. If the pattern continues, we could see 105-106 in March 2019. The pattern also fits my CAC40 fractal idea earlier.
The CIBC analysis reported on FXStreet.com supports this view, as do earlier forecasts by ExchangeRates.org.uk , and JPMorgan who predict a bottom at 104 in March 2019 and then a recovery.
The trade is to take advantage of the bounce from the 200-day SMA we hit on Dec 20, and short 111.50 for 105, with a 100 pip stop, which is 6.5:1
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.
