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Usdjpylongsetup

USDJPY- Perspective -Disjoint channel USDJPY Though the long term downtrend was imminent in USDJPY it has managed to bounce from 102.600 towards 111.00 level where it met some major resistance and started falling towards south.Series of Lower low and Lower high patterns are forming and forming clear downtrend channel.Currently the 5th Elliot wave is underway.The lower side trendline adnd 108.00 (key psychological level) will be a another reason for buy.Comparatively the DXY is in downtrend in recent days and the yield of bonds was declining so its better to short this pair now.Break and retest will pave a way further for bear. The current price was well below the 03 Exponential moving averages (50,100,200)&Point of control *Price-below price action level *Price below point of control *Price below 03 EMA (50,100,200) *Fundamental support-JPY over USD *Downtrend channel *Elliot wave-05 underway (Bearish trend) Disclaimer! This chart represents the future expected move only-Not a financial advice Appreciate good works- “Don’t judge each day by the harvest you reap but by the seeds that you plant”
Short
by forexorbit
USDJPY ZigZag Long Trade Setup - Potential x3 RRHi Traders! It has been a while here. Check out my current trade setup on USDJPY. Price has completed a simple zigzag which might be part of the circled wave iv potential triangle pattern. Wave c equals a and it's also testing the lower boundary of the parallel channel. The breach of the upper green level will be our conservative entry. Market has presented an early entry from the lower green level. The price must stay above the red invalidation level for this setup to remain valid. What's your view on UJ? Let me know in the comment. Thanks, Veejahbee.
Long
by Veejahbee
1
USDJPY: Keep 109.30 on Your Radar Next WeekThe USDJPY is testing a multi-year trend line from the 2015 high. The level connects with the February 2020 high, which preceded the March decline that sent the USDJPY 1,000 pips lower. As you can see, the market is challenging the resistance level today just above the 109.00 handle. Whether you see today’s retest as a selling opportunity or an upcoming bullish breakout depends on your outlook. I have a relatively neutral stance at the moment. A close above 109.30 could offer an attractive buying opportunity. On the other hand, bearish price action on the weekly chart could send USDJPY lower. However, the daily chart may offer some clues. Notice how USDJPY is consolidating below 109.30 on the daily time frame. That may be an indication of an imminent break higher. Usually, consolidation just below a key resistance level is bullish. We’ll have to wait and see if that’s the case here, but so far, I have no reason to be bearish, much less short the USDJPY. If buyers can clear 109.30 resistance next week, it could send the pair toward the 2020 high at 112.00. Alternatively, bearish price action from the 109.30 region could offer an opportunity to get short. That said, the bearish signal would need to occur on the weekly chart to help offset the bullish momentum we’ve seen since January. Trade idea: Watch for a buying opportunity following a close above 109.30 next week. That would open the door to the 2020 high at 112.00. Alternatively, bearish price action on the weekly chart could present a selling opportunity. That said, USDJPY has shown strong bullish momentum since January, so I have to respect that for now. Link Daily Chart - Link Weekly Chart- If you like this Idea, kindly smash the Follow & Like button & support us! Thanks!
by EagleForexTrade
USDJPY Broad falling wedge leads to the bullish runUSDJPY Because of the broad weakness in USD this pair has visit some south extreme and due to the final quarter and year end fixing and selling of USD is also acted as good fundamental factor to short this pair. USDJPY has reached around 102.00 and got some rejection at this level and this level was currently acting as year(2021) low. We can see a series of broad falling wedge pattern in this chart which is a clear sign of bullish trend and we have identified some triangle breakouts too. Interms of average daily moving of major pairs USDJPY is lagging behind the counterparts Positive risk sentiment will not favor the JPY. Recent vaccine developments and smooth political transition in USA will give a positive hope for the whole economy and the economic figures are much improving in recent months and the number of peoples who are claiming the unemployment benefits has in declining trend. The FED has reiterate the they will not hike the interest rates until the inflation is well above the 2%. This is average inflation targeting. DXY is also turned positive. More bullish run was expected in USDPY.
Long
by forexorbit
USDJPY Technical Analysis ApproachDuring this mark up, I will be providing you with a visual break down of my prediction of USDJPY! Before you take a look at this mark up, please be sure to understand that everything is color coordinated to make it easier for you to understand my prediction and perspectives of the market. Listed below are the steps to my prediction… 1. Yellow Trend Line = Support and resistance mark up.. Helping me identify which way the mark is trending 2. Green Lines = represents the higher highs and higher lows of the market. ORRRR the lower highs, lower lows.. But in this example, it's HIGHER HIGHS, HIGHER LOWS 3. Blue = The kill zone. Where I am looking for price to make its move. Previously at 109.368 there was a massive drop to the downside. 4. Pink Box = It is a bearish candle that represents where price pushed up, testing the highs BUT!!! Ended in a more bearish position. Following a lower low, lower close of the next bearish candle. After switching from the 1-hour time frame and viewing the RSI on the 1-day time frame, the RSI is reached the overbought conditions of the market which is a big indication that price could reverse into a sell. You can either wait until it breaks the kill zone (which consist of being disciplined and patient) or follow your own trading analysis that you think is right.. If you have any questions about my mark up, please be sure to leave comments below and I will answer your questions as quickly as possible. Thank you!
by investwithk
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. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5