Usdjpybullish
USDJPY Bull Continues Until 130.000+We have seen a nice leap in price since my last update, blowing past the resistance of 127.330 .
I am still bullish on USDJPY, but the price of 130.000 will be a big deciding factor. If the pairing continues past this price it will more than likely go onto to 134.000 . If not we may see some drops.
Current Trading Range based on April 2002 day chart
Entry: 128.650
TP: 129.000 | 129.200 | 129.600 | 129.800 | 130.000
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How I look at fast bullish runs USDJPYJust a bit of a look at how I trade these pairs when price is on a huge upside move. It can be very rewarding when you get entry's and straight into risk free but remember anything can happen and just cause price is looking so strong, we can get sell offs whenever... its better to be safe then lose.. risk amounts stay the same ALWAYS no matter how good a setup looks.
USDJPY - LONG
ALL ANALYSIS ARE MADE USING ONLY PRICE ACTION, NO INDICATORS. MULTIPLE TIMEFRAMES ARE INVOLVED BEFORE TAKING A TRADE.
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USDJPY: Near Strong Support Level....Important Levels to Note!!!USDJPY have tested this support level @107.10 price level and what we have seen is failure to reject this level. As we can see this led to 3 lower head forming. For now, I will be expecting to see a BULLISH movement to 108 price level. Definitely, a breakthrough in price level there is possible which I will update again.
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USDJPY Consolidating at CRUCIAL SUPPORT: Potential BUYUSDJPY is consolidating at the Support area for the last few days. So, it would be interesting to see if USDJPY manages to stage a comeback this week. Like with any other JPY pairs, the main driver is going to be the Global Risk Sentiment. I expect risk sentiment to get a little better this week because of the recent trade deals with Mexico.
Besides, recent Dollar sell-off on account of Rate Cut related assumptions which are a bit overdone in my opinion.
So, depending on BULLISH PRICE ACTION in the support area, traders can look for BUYs at 108 with SL below 107.70.
TPs can be set at 109 and 110 respectively.