USDJPY short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
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Usdjpyidea
USD/JPY Descending TriangleAs previously reported this has been following a descending triangle for many months now. It is near the top trend line so a short is fairly safe from here with a stop loss just above the trend line, TP at the previous low. For a better entry I would monitor the 1HR timeline with MACD.
USDJPY: Diagonal pattern in wave BIn the weekly chart, the price is forming a Triangle Pattern. Currently, the price is in wave D of that. The structure must have 3 confirmations.
In the daily chart, wave A is completed in the range of 111.68, also in wave B, we can see the Diagonal pattern, which is ended in the range of 102.59.
To be able to receive the confirmation of the uptrend, the price needs to cross the range of 105.67, if the price crosses the range of 101.18, this analysis will be nulled.
If we intend to enter the risky orders, after the price crosses the range of 104.39, we can set the long order.
USDJPY long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
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UsdJpy could go to 106Since March 2020, UsdJpy is in a downtrend. I think things are about to change and the pair could go to 106 soon.
After the most recent low Usd has recovered losses and the last days of last week found the pair in a tight consolidation just under trend line support.
I expect a break of this downtrend line and a clear daily close above 104 would expose 106 resistance.
USDJPY Forming Descending Wedges Pattern.Hello traders, USDJPY is trading at 103.97. The price is trading in a downward resistance and support wedges and can consolidate further before starting down trend. If the price breaks the key level at 103.88, it can continue its down trend and its target prices are as follows. 1st target price at 103.32 and 2nd target price at 102.59.
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