Bullish bounce?USD/JPY is falling towards the support level which is a pullback support that is slightly below the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 147.18
Why we like it:
There is a pullback support level.
Stop loss: 145.79
Why we like it:
There is an overlap level that is slightly above the 50% Fibonacci retracement.
Take profit: 149.28
Why we like it:
There is a pullback resistance level.
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Usdjp
USD/JPY expected to head lower from these levelsWith the 25 EMA is almost crossing the 50 EMA and USD/JPY at an area of RESISTANCE, this pair looks to be headed lower.
There's no a great deal of momentum in the market so this could be a slow burner.
There's no significant USD scheduled news until Thursday so there's no reason to see USD BULLS entering the market.
Most logical area of SUPPORT comes in at the 200 day EMA at 143.30 so if the price makes it down there then we would have to see whether this level supports or whether we're headed to 141.69 (WS1) over the next few days.
Daily Wave Rider - USDJPY - BUYUSDJPY
Channel: GREEN
WK Pivot: GREEN
AOB: WP
CON: SBB
BUY Stop: 149.882
Stop Loss: 148.795
TP01: 150.969
TP02: 153.143
DWR present as a buy setup on 18 OCT, with Channel and Pivot are green bouncing off weekly pivot
Trade is not taken
SPX500: SELL
DXY: SELL
OIL: SELL
GOLD: BUY
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USD/JPY Bearish View🔸4H CHART EXPLANATION:
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🔸Price bounced at the Support Zone and started a nice bulish move, however, it couldn't surpass the Resistance Zone.
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🔸Instead, it has been rejected, and now it is breaking the Ascending Trendline of the current structure.
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🔸If the breakout is confirmed and price consolidates below, we may see a bearish move towards the Support Zone.
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🔸 Will look for a lower timeframe bearish setup.
🔸DAILY CHART ANALYSIS:
USDJPY double topUSDJPY has double top and second top is not overwritten first one. So, USA fundamental backgrouns is still weak so here is goo risk-reward opportunity to sell.
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USDJPY is approaching support, potential bounce!USDJPY is approaching our first support at 105.82 (horizontal pullback support, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong bounce might occur at this level pushing price up to our major resistance at 107.02 (horizontal swing high resistance, 23.6% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our support at 5%, in line with the potential downside before price reaches our first support. A bounce from this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
USD/JPY Current Situation and available opportunities! [4HC]Hello!
Firstly, keep in mind that this plan is set apart from Trump's inauguration tomorrow!
1. Short scenario:
* 2 Targets.
* About 225 Pips.
* About 4 days execution.
2. Long scenario:
*2 Targets.
*About 130 Pips.
*** DO NOT enter now. You need to watch and catch the chance if requirements on the chart are met.
Regards