USD/JPY:BUY From 61.8% FIBO Level Pullback For A LONG SetupUSD/JPY is still in a consolidation area. The technical analysis shows in the last sessions the price reach the bottom around 129.500 Lower-low then a bullish impulse pushed the price to the creation of a new Higher-high at 134.800 where from 6 January the price made a retracement on the 61.8% Fibonacci level, exactly where we are now. Based on our analysis, the pullback on the 61.8% Fibo in confluence with the re-test of the dynamic trendline may push the price higher at least to reach the previous swing high, a possible extension of this movement to area 100% Fibo extension isn't to exclude. The stochastic in 4Hours shows an oversold scenario and our Forecast is about a new Raising of the USD/JPY value.
Usd-jpy
USDJPY H1: Bullish outlook seen, further upside above 130.80On the H1 time frame, prices are approaching the support zone at 130.80, in line with the Fibonacci confluence levels where a throwback to this zone could present an opportunity to play the bounce. Stochastic is approaching support at 2.73 as well, supporting the bullish bias. Failure to hold above the support zone at 130.80 could see prices push lower to test the support zone at 129.50.
Usdjpy should be still more bias to go down
**Find out more from my Tradingview Stream this week**
***************************************************************************************
Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
Joe Gun2Head Trade - USDJPY into short term resistanceTrade Idea: Sellinh USDJPY
Reasoning: Into short term resistance.
Entry Level: 134.36
Take Profit Level: 129.80
Stop Loss: 136.08
Risk/Reward: 2.64:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
USDJPY H4: Bullish outlook seen, further upside above 131.00On the H4 time frame, prices are approaching the support zone at 131.00, in line with the 50% Fibonacci level where a throwback to this zone could present an opportunity to play the bounce. A break above the upside confirmation level at 134.50, which is also the graphical swing high resistance could provide the bullish acceleration for further upside in prices, to the resistance zone at 137.80. Stochastic is testing support at 0.45 as well supporting the bullish bias.
💱USD/JPY Chance For A Correction💱💱USD/JPY Chance For A Correction
💱The Japanese yen today scored a strong wave of appreciation.
💱But the end of the day lifted the price a bit.
💱Looking at the candlestick formation and price action it looks like there is a good chance to make a small upward correction.
💱I established a support zone near the recent lows.
💱The resistance zone is located around the 0.236 level of the entire downward wave.
💱The scenario I am playing out is the execution of a small upward correction. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
USDJPY 4hour Analysis January 1st, 2023USDJPY Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: We are clearly looking bearish on UJ as expected due to DXY falling.
There is a strong likelihood we will continue bearish this week but personally I am not satisfied with the current price action, we are a bit extended with a large amount of volume still in the market.
The safest and most ideal scenario would be entering long for a retrace up to 135.000 resistance & our 61.8% fib level.
Trade scenario 2: The other likely scenario is that UJ continues to plummet without any structure. This would make a safe trade scenario very difficult to spot.
💱USD/JPY End Of Downward Correction💱💱USD/JPY End Of Downward Correction
💱Today we made a downward correction which with its range brought the price to the support level set in the previous post
💱The technical environment still favors growth so I am not worried about my upward scenario.
💱The scenario I'm playing out is the continuation of growth to the vicinity of the 0.236 level of the entire downward wave from the peak to the current bottom. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💱*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
USDJPY H1: Bullish outlook seen, limited upside above 133.20On the H1 time frame, prices are approaching the support zone at 133.20, in line with the 38.2% Fibonacci retracement level and a throwback to this zone presents an opportunity to play the bounce to the resistance zone at 135.60. This resistance zone is also the previous graphical area that has been tested as both a support and resistance. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
💱USD/JPY Opportunity For Continued Increases💱💱USD/JPY Opportunity For Continued Increases
💱This post is a direct continuation of my previous post:
💱After the declines of December 20 due to the intervention of the Bank of Japan, the USD/JPY is doing quite well in terms of increases.
💱It can be seen that the sentiment is still pro-growth.
💱Also, the technical environment supports pro-growth scenarios.
💱It looks like there is a high probability of reaching the resistance zone marked on the chart, which is located around the 0.236 level of the entire downward wave from the peak to the current low.
💱I determined the support zone based on where the price has repeatedly found support as well as resistance.
💱The scenario I'm playing out is a continuation of growth to the vicinity of the resistance zone. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
💱*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀