Get started

Usdjpylongsetup

USD/JPY Near Term Set up for LongFX:USDJPY Long Entry 1: 109.0, Stop Loss 1: 108.75, Target 1: 114.4, Risk to Reward Ratio: 1:19.4 Entry 2: 108.3, Stop Loss 2: 108.00, Target 2: 114.4, Risk to Reward Ratio: 1:28.33 Trade cautiously and await for confirmation of entry signals Consider the horizontal channel which repeats itself over a 1- 1.5 Month Period Support levels at 109 & 108.35 Resistance level at 114.4 Awaiting moving average cross over 4 hour RSI Index overbought Bottom of Bollinger Bands - awaiting reversal Good Luck!
Long
by kct-perspective
USDJPY dropping nicely from resistance, remain bearishSell below 111.56. Stop loss at 112.27. Take profit at 110.29. Reason for the trading strategy (technically): We remain bearish and continue to sell below 111.56 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 110.29 support (Fibonacci extension, horizontal pullback support, Elliott wave theory). Stochastic (21,5,3) is reacting nicely off our intermediate resistance at 68% where we expect a further drop from. Correlation analysis: We are seeing JPY strength with AUDJPY and USDJPY expecting drops.
Short
by MEX_Exchange
2
USDJPY change in structure, prepare to sellSell below 111.56. Stop loss at 112.27. Take profit at 110.29. Reason for the trading strategy (technically): We prepare to sell below 111.56 resistance (Fibonacci retracement, horizontal pullback resistance) for a push down to at least 110.29 support (Fibonacci extension, horizontal pullback support, Elliott wave theory). Stochastic (21,5,3) is reacting nicely off our 93% resistance with good downside potential. Correlation analysis: We are seeing JPY strength with AUDJPY, EURJPY and USDJPY expecting drops.
Short
by MEX_Exchange
USDJPY bounced up perfectly to profit target, remain bullishBuy above 111.38. Stop loss at 110.64. Take profit at 112.90. Reason for the trading strategy (technically): Price has bounced up perfectly from our buying area and is fast approaching our first profit target. We remain bullish above 111.38 support (Fibonacci retracement, horizontal overlap support) for a further push up towards 112.90 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is bouncing nicely off our 1.2% support as expected
Long
by MEX_Exchange
USDJPY bouncing nicely as expected, remain bullish for a furtherBuy above 110.88. Stop loss at 109.97. Take profit at 112.42. Reason for the trading strategy (technically): Price has dropped further to our buying area and has now started bouncing off our key support area. The plan is to remain bullish above key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a short term correction to at least 112.42 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is bouncing nicely off our 1.2% support as expected
Long
by MEX_Exchange
USDJPY testing another major support, we prepare for a bounceBuy above 110.88. Stop loss at 109.97. Take profit at 112.42. Reason for the trading strategy (technically): Price has dropped further and is now testing another key support level at 110.88 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and we expect to see a bounce above this level for a short term correction to at least 112.42 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing nice support above 1.2% where we expect a bounce from.
Long
by MEX_Exchange
USDJPY finally bouncing off support, time to start buyingBuy above 111.77. Stop loss at 110.88. Take profit at 114.32. Reason for the trading strategy (technically): Price has finally dropped to our buying level which is major support at 111.77 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) and we expect a bounce above this level for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.
Long
by MEX_Exchange
USDJPY approaching major support, prepare to buyBuy above 111.90. Stop loss at 110.88. Take profit at 114.32. Reason for the trading strategy (technically): We remain bullish preparing to buy above major support at 111.90 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.
Long
by MEX_Exchange
USDJPY profit target almost reached, prepare to buy above major Buy above 111.90. Stop loss at 110.88. Take profit at 114.32. Reason for the trading strategy (technically): Last week price has continued its drop perfectly towards our profit target. We prepare to buy above major support at 111.90 (Fibonacci retracement, Fibonacci extension, Elliott wave theory, horizontal overlap support) for a push up to at least 114.32 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is approaching major support at 1.2% which corresponds with the bounce we’re expecting in price.
Long
by MEX_Exchange
USDJPY dropping nicely, remain bearish for a further dropSell below 114.32. Stop loss at 115.09. Take profit at 111.77. Reason for the trading strategy (technically) Yesterday price has continued to drop but is starting to see its bearish momentum slowed down, we do see a lot more downside potential in this move though. Our goal is to remain bearish looking to sell on rallies below major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance, bearish divergence) so that we can get into good positions to play the push down to at least 111.77 support (Fibonacci retracement, horizontal overlap support). Stochastic (89,5,3) is seeing major resistance below 95% and has made a bearish triangle exit. We can see that it has good downside potential to play the drop further before reaching any significant support.
Short
by MEX_Exchange
1
USDJPY prepare to sell on major resistanceSell below 114.32. Stop loss at 115.09. Take profit at 111.77. Reason for the trading strategy (technically): Price is approaching major resistance at 114.32 (Fibonacci extension, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 111.77 support (Fibonacci retracement, horizontal overlap support). Stochastic (55,5,3) is seeing major resistance below 95% and we expect a drop from this level soon.
Short
by MEX_Exchange