Choppy USDJPY to test the top of the channel.The price for USDJPY is consolidating at the bottom of the channel looking for another run to break the top of the channel. The bottom may be in but do not be surprised to see another fake out to the bottom. If you are already in the long, and in profit, you can take some profits off the table once price tests 116.5. Otherwise, I think we can wait for a better buy entry when price hits the oversold region of the 4hr RSI.
Usdjpybuy
More downside for the USDJPY but capped in a range.It looks like there is more downside to come for the DXY though the move will likely be capped in a range. This downward move can get some support at around the 114.6 or 114.2 levels before it hits the bottom of the range. What the price chooses to do at those levels will be largely dependent on what the central banks do. Is the federal reserve going to turn more hawkish than they already are? Or are they going to stick to the original plan?
USDJPY LONG/SHORTUSDJPY is currently at a very crucial level.
It is facing a rejection from the previous resistance zone.
For LONG :- One can enter it once it closes above 116.5 in Daily TF for target of 118+.
For SHORT :- One can enter around 115.5 with a SL of 116.5 for target of 113 (SAFE TARGET).
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
USDJPY: Breakout Trap ⚠️Have buyers been lured in with a clean breakout creating support? It is a possibility.
If this is the case, I would like to see some sells from this region.
The ideal entry would be on the pullback after the BOS but aggressive traders could consider this region.
For this sell to work, price cannot pass the high marked or the setup will be invalidated.
Traders, if you have your own opinion about this idea, write in the comments section, I always reply. 💬
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GBPJPY will it hold?This 155.214 level for the GBPJPY is extremely crucial? Will it hold for more sustained upside or will this range bound trading continue? I am slightly bullish to the upside for one last blow off top. But there are other pairs that have clearer direction. If you'd like to enter a trade, control your risk and expect price to turn against you. I'd personally long 155.214 at less than 1% of my account size and ride it to 160.
USDJPY more upside to come. The dollar yen is trading in its wave 4 range, lurking in the dark to pounce onto the wave 5 impulse. I think the fed's decision on rates may surprise us in the coming weeks leading to a strong dollar rally and a sell off in risk on. Short term, the 113, 112 or even 111 are in play before this upside. We are expecting wave 5 to test 120. Trade safe!
USDJPY | Update | Next Move? USDJPY has been following parallel channel by its heart and core. We were long when it was at trendline support (Check USDJPY chart) and attempted short from the horizontal level (Check Chart).
Currently we are expecting it will take a hit once again from horizontal level and price will come down. Alternatively price can break the resistance and test the channel top. To take the right trade wait for the price action and candle stick.
Trade your levels accordingly
More downside coming for the USDJPY.There will be more downside coming for the dollar yen in the coming weeks and I expect price to get some support and start consolidating around the 112.8 levels. All eyes are on the fed's meeting next week. Their stance will determine the next course of action from there. If you are not in the short , you can wait for a pullback and a quick scalp down to the 112.8.
USD/JPY 4HR BUY TRADEHi TRADERS this is my trade set up for the USD/JPY for the new week ahead
USD/JPY DRAGONFLY DOJI on the daily chart so after a big trend down we should have a nice reversal for a long trade
so i will be looking for a pullback to order block zones to take a buy trade
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome
Wave 5 complete and we gonna see more downside for the USDJPY?Is wave 5 complete and more downside to come for the USDJPY. We think this is unclear at this point of time and we should be seeing some kind of choppy wave action at these levels with a bias to the downside. If you want to trade the dollar yen, go for quick scalping trades with a bias towards shorting the top of the range.
BEAR CASE
If you manage to enter for a short at market opening next week, the pair is good for a short.
BULL CASE
Going for longs here is like catching a falling knife. I'd be cautious for longs until a clear range is formed.
USD/JPY BUY SIGNALHey tradomaniacs,
welcome to a new free trading-setup.
USD/JPY:Swingtrade-Execution
Market-Buy-Order: 114.415
Stop-Loss: 114.145
Point of Risk-Reduction: 114.725
Take-Profit: 115.455
Stop-Loss: 27 pips
Risk: 0,5% -1%
Risk-Reward: 4,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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