Usdjpybuy
USDJPY - SWING - 21. APR. 2020Welcome to our weekly trade setup ( USDJPY )!
-
1 HOUR
Sideways moving structure with several highs and lows.
4 HOUR
Retest of range low with instant reaction and close back above trend sr zone.
DAILY
Expecting another push to the upside forming new highs in H4 !
-
FOREX SWING
BUY USDJPY
ENTRY LEVEL @ 107.550
SL @ 107.010
TP @ 108.350
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Looking like we could start climbing. Showing signs of a double bottom on the higher timeframe. USDJPY can easily push up to 110 or even higher. That being said at the moment we are stuck in a range just going sideways. Before I look for longs we need to see a clean break above resistance of 108. I have said I’m looking for a short term long, but I do believe ultimately we’re going to be seeing a bigger push to the downside. So keeping my eye on that.
USDJPY Weekly Market OverviewUSDJPY been in a consolidation, nothing will be changed until we see a break out of this little range so what I'm looking for next week ,if we're gonna break higher once again ,if that would be the case then we look for a continuation move up, at the moment it is trading the structure area a key level of resistance 108.50 been a resistance for and support area many times so when there is a risk also that you may see the market pushing to the downside from 108.50 area ,so keep trading this range until you have a break out of it, keep it simple,if there is no break then we may get another leg to the downside - then look for taking profit or buying the bottom or if we get a break out we look for a retest if the retest hold above the range then we may see a another leg to the upside toward 109.70 .
***Comment your thoughts down below!
USDJPY approaching resistance, look out for potential reversal!
USDJPY is approaching its resistance at 108.761 where it is could reverse down to its support at 105.286.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Big movement to the downside with USDJPY which I was anticipating. I didn’t want to take a short unless we saw a clean rejection off 112 since we were slow close, but instead resistance held strong and USDJPY just rolled over to the downside. Taking this short would have been gambling. You have to keep in mind that we are not experiencing normal market movements so we need to remain extra cautious.
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
I still feel that USDJPY is going to push up and reject off 112 before rolling over to the downside. Resistance has been holding very well, and we do look like we may be breaking out to the downside now, but I am not fully convinced. I want to see USDJPY push up a bit higher giving us a clean rejection off 112 where I will be then looking to take a trade. Currently looking like we might attempt to push below the current trendline.