USDJPY LATEST UPDATE FRIENDS - SELLUSDJPY has retraced to Fibonacci retracement
level of 0.618 as previously surmised. this could
extend to Fibonacci retracement level of 0.382 (113.441)
before it falls back down
Also Stoch RSI is going into overbought territory.
Be ready to jump in for a sell if you are not in already
See previous analysis
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Usdjpylongsetup
USDJPY LONG1. Broke through resistance and now bounced off the new support twice.
2. Inside bar potential break upside
3. Upside wick and long bullish candle to show strong momentum to upside.
4. Good RR of 2.7ish
Fundamentals show hawkish tone by FED and recent good jobless data.
*Strongly based on support and resistance play
USD/JPY Trading PlanCurrency rate broke up key level 113.13, H1 candle close upper. It's a signal for next price increasing.
Also, most of the Major currencies shows that US Dollar will be stronger. (Example EURO, GBP, AUD ,CAD)
The best place, where we can open a long will be after fake broke of 113.13, because it's powerful Mirror level on D1 chart. Look on a right screen, you can see that the price bounced down from that level before break it. It happens when big players need more volume for push the price only.
They showed that they are interested to move JPY up. Just wait for pullback to make your risk lower and potential profit bigger.
Do you think as me, that USD/JPY will move Up? Write it in comments please.
P.S. Push like and subscribe if you want to see more signals in the future. I'll write when to open a deal if this post get 45 like.
Always Use proper risk management!
USD/JPY overviewUSD/JPY overview
The price bounced up from key zone 110.905 – 111.12 and hit my S/L yesterday. At this moment I think about but only because when the currency rate bounced from such zones it is a signal for continue of the trend.
I will open Long if the price will make pull beak to key level 111.12
The Goal will be 9 months maximum 114.70
P.S. Push on loke button if you like my idea.
LONG SWING USDJPY OPPORTUNITYEverything is pretty much on the chart. I am posting the 4H (I don't know how to post pictures in my comments, not enough rep I think) to give the bigger picture of the swing but the entry is on the 1H, EMA cross over happening, waiting for next candle close(above).
Trade Safe!!
USDJPY Structure creates trading plan. Since breaking out from the triangle wedge form at a weekly support, traders have chosen the direction for USDJPY.
I would only be interested in positioning buy trades at the zones I've mapped out above.
Trade with smaller lots as trades go higher to reach 112.200, as it goes to challenge the daily supply area.