Get started

Usdjpynews

USDJPY Remain bullish for a push upBuy above 111.35. Stop loss at 110.35. Take profit at 113.80. Reason for the trading strategy: We remain bullish above 111.35 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a push up to 113.80 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) is approaching strong support at 36% and also sees bullish divergence versus price, signalling a bullish bounce is soon approaching.
Long
by theforexarmy
USDJPY profit target reached perfectly again, time to buyBuy above 112.58. Stop loss at 112.21. Take profit at 113.75. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) is seeing strong support which is signalling to a price bounce.
Long
by theforexarmy
USDJPY profit target reached, prepare to turn bearishSell below 114.03. Stop loss at 114.43. Take profit at 113.05. Reason for the trading strategy (technically): Price has bounced up and reached our profit target perfectly. We prepare to turn bearish below 114.03 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 113.05 support (Fibonacci retracement, horizontal support). Stochastic (21,5,3) is seeing strong resistance below the 97% level.
Short
by theforexarmy
1
USDJPY profit target reached, time to turn bullishBuy above 113.06. Stop loss at 112.58. Take profit at 113.82. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We now turn bullish above 113.06 support (Fibonacci retracement, horizontal support) for a push up towards 113.82 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (21,5,3) is seeing strong support above the 8% level and is turning up.
Long
by theforexarmy
USDJPY Weekly View: Bouncing nicely, remain bullishBuy above 112.60. Stop loss at 111.35. Take profit at 115.30. Reason for the trading strategy: USDJPY has bounced nicely off our support at 111.35 previously. We now remain bullish above 112.60 support (Fibonacci retracement, horizontal overlap support) for a further push up to 115.31 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) is seeing strong support above our 36% level and also displays bullish divergence vs price. A recent bullish exit signals a further acceleration in price upwards.
Long
by theforexarmy
5
USDJPY profit target reached, prepare to sellSell below 113.95. Stop loss at 114.95. Take profit at 112.56. Reason for the trading strategy (technically): Price has reached our profit target perfectly. We now turn bearish below 113.95 resistance (Fibonacci retracement, horizontal resistance) for a drop down to 112.56 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing strong resistance below the 94% level. Reason for the trading strategy (fundamentally): The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value and a weaker forecast which means a weaker USD, which goes in line with our bearish USDJPY trade.
Short
by theforexarmy
8
USDJPY right on major support, continue to buyBuy above 112.55. Stop loss at 112.00. Take profit at 114.00. Reason for the trading strategy (technically): We remain bullish above major support at 112.55 (Fibonacci projection, multiple horizontal swing low supports) and we expect to see price make a bounce above this level towards 114.00 resistance (Fibonacci retracement, recent swing high resistance, horizontal overlap resistance). Stochastic (21,5,3) is bouncing nicely above our 8% support and displays bullish divergence vs price which is a good signal of the bounce we expect from here.
Long
by theforexarmy
1
USDJPY profit target reached, prepare to buy againBuy above 112.55. Stop loss at 112.00. Take profit at 114.00. Reason for the trading strategy (technically): Price bounced nicely and reached our profit target before retracing strongly. We remain bullish above major support at 112.55 (Fibonacci projection, multiple horizontal swing low supports) and we expect to see price make a bounce above this level towards 114.00 resistance (Fibonacci retracement, recent swing high resistance, horizontal overlap resistance). Stochastic (21,5,3) is bouncing nicely above our 8% support.
Long
by theforexarmy