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Usdjpylongsetup

USDJPY in a strong ascending channel, potential for further rise USDJPY remains in a strong ascending channel and is also above our Ichimoku cloud signalling that there’s strong bullish momentum. Price could potentially drop to our first major support at 109.98 (Fibonacci retracement, Fibonacci extension, horizontal pullback support) for a bounce to at least 110.86 resistance (major 61.8% Fibonacci retracement). RSI (89) has made a strong bullish exit signalling that there’s potential for further upside movement. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
USDJPY Rose Perfectly To Our Profit Target, Remain BullishUSDJPY bounced off our channel support perfectly and reached our profit target. Look to buy on weakness. Buy above 109.98. Stop loss at 109.61. Take profit at 110.86. Reason for the trading strategy (technically): Price has shot up perfectly to our profit target after bouncing above our channel support. We now look to buy on weakness to play the further channel strength on USDJPY. Our major support buying level is at 109.98 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we look for the bounce above this level for price to rise to 110.86 resistance (Major 61.8% Fibonacci retracement). RSI (89) has made a beautiful bullish exit signalling that further upside momentum is expected.
Long
by theforexarmy
POSSIBLE CUP AND HANDLE FORMATION AND CONTINUATION ON USDJPY!Hello traders,i hope you all had a profitable trading week as we had a pretty busy week including NFP and a lot of volatility. Let's see what great set-up we have on USDJPY pair. Ascending trend for the pair USD/JPY continues. Estimated pivot point is at a level of 108.71. Main scenario: long positions will be relevant from corrections above the level of 108.71 with a target of 110.80 to 112.10. Alternative scenario less possible :breakout and consolidation below the level of 108.71 will allow the pair to continue declining to a level of 106.90. TECHNICAL OBSERVATIONS 1.We have a rounded bottom and a possible a cup and handle formation as i show with the blue arrows based on previous price action. 2.We can also notice the huge selling volume as i show with the green arrow at these levels that indicates we are about to see a big retracement from these levels or a bullish breakout to the upside immediately. 3.We can see also that the ichimiku clouds are coinciding with the expecting move as we broke the ichimoku clouds to the upside and now we are expecting a re-test of the clouds,the top of the cup and the support level based on price action which all these are the same thing. 4.Important support level as i show with the arrows based on previous price action and top of the cup. POSSIBLE TRADE ENTRY AT 107.80 STOP LOSS AT 106.10 TARGET AT 110.80 TO 110.20 AREA THANKS FOR SUPPORT!! KEEP FOLLOWING FOR MORE PROFITS!! PLEASE DON'T HESITATE TO LEAVE A COMMENT OR A QUESTION!!/b]
Long
by The_Greek_Trader
USDJPY H1 looking for long entry setupA double bottom is required as it broke some of the strucutre in H1 chart. Awaiting to long at 106.88 or even lower, preferably lower as long as it didn't break and close below the buy zone. EP: 106.88 ISL: 106.47 TP1: 107.17 TP2: 107.37 Disclaimer: Information or opinions provided herein should not be used for investment advice and do not constitute an offer to sell or solicitation of an offer to buy any securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. When making a decision about your investments, you should seek the advice of a professional financial adviser. All rights reserved of Forex100 Academy (Pte Ltd). No part or in whole of this report may be reproduced and disseminated without the written permission of Forex100 Academy (Pte Ltd).
Long
by RaynLim
USDJPY watch for breakout! USDJPY broke out of its horizontal resistance-turned-support level at 105.60 (horizontal overlap support, breakout level). A strong bounce could occur at this level pushing price up to our major resistance at 106.67 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) which coincides with the long term descending resistance line. A breakout of our intermediate resistance at 105.97 (horizontal swing high resistance, 50%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension, double bottom exit potential) might provide the bullish acceleration to our major resistance level. RSI (34) is also seeing a bullish exit, a good precursor of a potential rise in price. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Long
by Tickmill
USDJPY has made a strong bullish exit, upcoming rallyUSDJPY has shifted momentum strongly towards being bullish and we’re at a good level to enter a long trade. Buy above 106.35. Stop loss at 105.40. Take profit at 108.45. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending resistance-turned-support line meaning our momentum is shifting from bearish to bullish. We look to buy above major support at 106.35 (Fibonacci retracement, horizontal overlap support) for a strong push up to 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance). RSI (89) sees a bullish exit on RSI signalling a shift in momentum from bearish to bullish too.
Long
by MEX_Exchange
1
USDJPY has reached our profit target perfectly,further rise!USDJPY has made another bullish exit with great upside potential. Buy above 106.48. Stop loss at 105.81. Take profit at 108.51. Reason for the trading strategy (technically): Price has rose perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to 108.51 (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious about 107.78 resistance as price might react off that level. RSI (89) has made a similar bullish exit signalling a change in momentum from bearish to bullish.
Long
by MEX_Exchange
2
USDJPY has broken major resistance, potential upcoming rally!USDJPY has broken major descending resistance and also overlap resistance triggering a strong rally. We look to buy above major support at 106.41 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up all the way to 107.85 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (55) has made a similar bullish exit signaling that we’ve seen a change in momentum from bearish to bullish. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
USDJPY rising perfectly, remain bullish for a further riseUSDJPY has shot up perfectly and has surpassed our intermediate resistance, leading to a further rise. Buy above 106.41. Stop loss at 106.18. Take profit at 107.09. Reason for the trading strategy (technically): Price has rose perfectly to our first profit target and has surpassed that level. We are now seeing major support at 106.41 (breakout level, Fibonacci retracement, horizontal overlap support) that should provide the support we need to see price push up to 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) has made a nice bearish exit from our long term descending resistance-turned-support line signalling that a rally is expected.
Long
by MEX_Exchange
USDJPY facing massive bearish pressure, potential further drop!USDJPY is experiencing massive bearish pressure from our descending resistance line and we are seeing major resistance at 106.41 (Fibonacci retracement, horizontal overlap resistance). A drop could occur from this level to push price further down to 105.29 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a descending resistance line add to our overall bearish sentiment on USDJPY. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
3
USDJPY starting to break out nicely, time to turn bullishUSDJPY has started to form a bullish exit, time to start buying to play the breakout. Buy above 105.85. Stop loss at 105.40. Take profit at 107.09. Reason for the trading strategy (technically): Price has started to break out of our descending resistance-turned-support line signalling that a change in momentum should be expected. We look to buy above major support at 105.85 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to at least 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to be cautious with our immediate resistance at 106.44 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to open a further bullish recovery. RSI (34) sees descending resistance which coincides with our resistance at 106.44. A break above our descending resistance needs to occur before a further rise can be expected.
Long
by MEX_Exchange
1
USDJPY to Hold Support?A simple look at the daily chart shows a trend line that can be drawn from the previous lows and touches the current low in the Yen. It is a make or break level which if held could set up for a move back to the 1.10 level and possibly above. If the level does not hold then another strong push can be expected which would reach down toward the 1.05 level. It's important to look for triggers on the lower timeframes and if they don't fire off then stand aside and look for a move beneath the trend line to establish new short positions.
Long
by Andy_Garcia_CMT_CFTe
1