USD/JPY Technical Analysis.Hello traders, USD/JPY is trading at 108.85. The Pair just broke the support level at 108.62 to start a new up trend. The price was moving in a down ward resistance and support wedges and after breaking support level started a new up trend. Its target price will be the strong resistance level at 109.23.
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Rishikesh Lilawat
Usdjpyidea
USD/JPY - In ASCENDING TriangleAfter reaching the main bearish trendline, the USD/JPY market rejected it and started a small bearish trend that formed an ascending triangle, with a upport line.
A breakout of the ascending triangle and retest of the main bearish trendline is possible.
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This is NOT a FINANCIAL ADVICE . This is just my point of view on the current situation.
USDJPY buy from current levelUSDJPY buy from current level
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USDJPY ANALYSIS ANALYSIS
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DAILY TF: BULLISH CANDLES SHOWING WEAK MOMENTUM
4HR TF: BREAK OF RECENT LOWER HIGH
1HR: RECENT HIGHER LOW BROKEN
PLAN OF ACTION
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- WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR TF TO COMPLETE BEFORE TAKING SELLS
- IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND BUY TRADES
ENTRY REASON
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- BREAK OF CORRECTION PHASE
STOP LOSS @ TO BE DETERMINED AFTER CORRECTION
TAKE PROFIT @ NEXT ZONE
USD/JPY SELL IDEAHey tradomaniacs,
welcome to another free trading-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmatio!
USD/JPY: Daytrade-Preparation
Market-Sell: 105,420
Stop-Loss: 105,870
Point of Risk-Reduction: 105,000
Take-Profit: 104,370
Stop-Loss:38 pips
Risk: 0,5% - 1%
Risk-Reward: 2,35
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Peace and good trades
Irasor
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USD/JPY Short to 0.618 FibThis may be a risky one but looking to jump on a short from current price down to 0.618 Fibonacci as I was previously aiming for. There is support between current price and that target which it has just rebounded from, that is what makes this risky. Also JPY has been weak recently so this may be a risk not worth taking for some people.
TP - 104.264