Usdjpybuy
USD/JPY Wave Analysis
The counter is been in an ABC correction format for the last 2 months.
It completed its waves A and B and is now constructing its wave C.
Further, the w and x leg of the wave C has been completed and it has kickstarted its y leg.
Hence, we expect the pair to be bearish in the short-term.
USD/JPY WEEKLY FORECASTHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
USDJPY bounced from support, potential for a further rise!
USDJPY bounced off 107.299 where it could potentially rise further to 108.097.
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USDJPY reversed from intermediate resistance, potential drop!
USDJPY reversed off its intermediate resistance at 107.325 where it could potentially drop further to 106.426.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDJPY BUY/LONG 4HR Divergence + Huge WickIn this trade there are multiple confirmations for the USDJPY BUY/LONG:
USDJPY:
Divergence on 4hr
Huge Wick On 4hr
Bullish Engulfing on Daily
Reversal Pattern Near Previous Reversal Spot On Daily(Bullish Engulfing)
Indexes:
DXY(US DOLLAR INDEX): Showing Signs of Strength
JXY(JAPANESE YEN INDEX): Showing Signs Of Weakness
Use proper risk management
ALL GLORY BE TO THE MOST HIGH!!!
USDJPY approaching resistance, look out for potential reversal!
USDJPY is approaching its resistance at 106.638 where it is could reverse down to its support at 106.238.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.