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Usdjpy1hr

USDJPY finally filled its price gap, time to buyBuy above 109.27. Stop loss at 110.28. Take profit at 108.71. Reason for the trading strategy (technically): Price has dropped strongly and has reached a major support level at 109.27 (Fibonacci retracement, Fibonacci extension, price gap) and we expect a correction above this level to at least 110.28 resistance (Fiboancci retracement, horizontal pullback resistance). Stochastic (34,5,3) is seeing major support above 4.1% where we expect a strong bounce from. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on AUDJPY, USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
USDJPY profit target reached perfectly once again,prepare to buyBuy above 110.25. Stop loss at 110.03. Take profit at 111.15. Reason for the trading strategy (technically): We remain bullish looking to buy above major support at 110.25 (Fibonacci extension, horizontal swing low support) for a push up to at least 111.15 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing major support above 4% and we expect a strong bounce above this level. Correlation analysis: We’re expecting overall JPY weakness with bounces expected on USDJPY and EURJPY. Hence this falls very nicely into a correlated move.
Long
by MEX_Exchange
POTENTIONAL BEARISH SHARK PATTERN USD/JPY ON 1H CHARTHello traders,as we look USD/JPY on 1H chart(attached below the daily analysis on USD/JPY) we can see a possible bearish shark pattern as we go reach the red zone of resistance. We may have a better entry for better P/L ratio trade if price makes a spike with a false breakout above the trend line into the red zone where we have the D completion point. TECHNICALLY We can see the downtrnd 200EMA which encourages us to take the short trade. Currently price is trying to go above the descending trend line. Maybe it does but for a while as we have already RSI divergence and Stochastic at oversold levels. POSSIBLE TRADE FIRST TARGET T1 WITH 1,40 P/L RATIO AT 111,215 SECOND TARGET T2 WITH 2,10 P/L RATIO AT 110,955 BUY STOP AT 112,150 THANKS FOR SUPPORT! HAPPY TRADING!
Short
by The_Greek_Trader
USDJPY profit target reached perfectly, time to start sellingSell below 111.62. Stop loss at 112.18. Take profit at 110.49. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We prepare to sell below major resistance at 111.62 (Fibonacci retracement, minor pullback resistance) for a drop towards at least 110.49 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is approaching major resistance at 94% where we have seen price react off multiple times historically. Correlation analysis: We’re expecting general JPY weakness with drops expected on EURJPY and USDJPY.
Short
by MEX_Exchange
2
USDJPY approaching profit target, prepare to buy above major supBuy above 110.21. Stop loss at 109.72. Take profit at 111.43. Reason for the trading strategy (technically): Price has been dropping perfectly towards our profit target. We prepare to buy above major support at 110.21 (Fibonacci extension, horizontal swing low support, bullish divergence) for a push up to 111.43 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) is displaying bearish divergence vs price signalling that a bounce is impending. Correlation analysis: We’re expecting general JPY weakness on AUDJPY and USDJPY so this goes in line with our view. Reason for the trading strategy (fundamentally): The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of an decrease which means a bearish USD is expected, this goes against our bullish USDJPY view hence it is best to exercise caution on this trade.
Long
by MEX_Exchange
USD/JPY right at our selling area, time to turn bearish Price has finally risen to our selling area. We turn bearish looking to sell below major resistance at 112.08 (Fibonacci retracement, horizontal pullback resistance, Elliott wave theory) for a drop towards 110.50 support (Fibonacci extension, horizontal overlap support). Stochastic (55,5,3) is reversing below our 93% resistance as we expect a strong drop from here. Correlation analysis: We're expecting general JPY strength with AUD/JPY and EUR/JPY expecting a drop too.
Short
by Korora
usdjpy gates open at 108.xxwith gold breaking the 1255.xx handle we have unlocked 1300.xx and beyond in a fairly easy swoop. Smooth tides expected here as we see jpy appreciating much more as us10y paper starts to see buyers coming in. JPY running 0.2% cpi y/y with little to no wage growth....tracking like a hawk here, Q2 flows already getting in position. Congratulations to those who took the previous usdjpy trade (see attached) for 4% and a bigger well done to those still holding...
Short
by TheBanker
12
USD/JPY: Weekly OverviewFrom last week we saw price start a bullish transition, to the upside we will wait for what happens this monday as price develops. I am waiting for price to come up to price range of 111.725 and see how price reacts around that level if not the next level that I am looking at is 112.158 Of course we want price to hit one of these key levels and break trend to the downside, we will see an entry on our 1HR and 15M chart. Thank You! Blueprint Forex Team Instagram: @blueprintforex www.blueprintforex.com
by pazminojr
USD/JPY right on inverse head and shoulder support, time to buyBuy above 111.42. Stop loss at 110.60. Take profit at 112.85. Reason for the trading strategy (technically): Price has dropped perfectly to our inverse head and shoulder buying level as expected and we continue to expect a bullish move above 111.42 support (Fibonacci retracement, horizontal overlap support, neckline support) for a push up to 112.85 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). RSI (55) similarly sees pullback support above the 47% level which is a good sign of a bounce we’re expecting above 111.42. Reason for the trading strategy (fundamentally): The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of a decrease which means a bearish USD is expected, this goes in line with our bearish USDJPY strategy view.
Long
by theforexarmy
2
FINAL ANALYSIS - BIG REVERSAL IN USDJPY - 1H CHARTHey Folks, Facts: 1- Top of structure broken, so the 3 wave correction is about to end up. 2- There is still a chance of one more move up, watch for that. 3- As soon as market breaks trendline we will get in the trade. - Hola Amigos, Hechos: 1- Tope de la estructura roto por el mercado, por lo cual la correción de 3 ondas terminará pronto. 2- Cuidado! Quizás hay un movimiento más hacia arriba. 3- Tan pronto como el mercado rompa linea de tendencia, nos metemos en el trade. Carlos
Short
by ccerezo11
7