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USDJPY → Bull Trend Over! Short to 145.000? Short Answer, Yes!USDJPY completed its third leg up in this bull trend then failed to break the Resistance Zone on a second attempt, creating a double top reversal pattern. It followed by breaking the Bull Trend Support line. Should we short? How do we trade this? 🤔 We have three legs up, failed to break the Resistance Zone on the third leg, then a second attempt, followed by a strong close below the Bull Trend Support line, which is right on the 4HR 30EMA. This is an ideal time to short. Entering a 1:2 Risk/Reward trade with a 1:1 Take Profit target for half of my position. Once the first take profit is hit, the stop loss moves up to the entry price to lock in profits. The second half will be held to the second take profit of 145.515 or if there is a major reversal signal that is clear. This analysis works directly off my last one, reference here: 💡 Trade Idea 💡 Short Entry: 147.207 🟥 Stop Loss: 148.055 ✅ Take Profit #1: 146.355 ✅ Take Profit #2: 145.515 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Double Top Reversal after the third leg up in a bull channel 2. Near a Resistance Zone 3. Broke the Bull Trend Line 4. Gap to 4HR 200EMA and Support Zone 5. RSI at 38.00 and Below the Moving Average Supports a slight pullback and then fall. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Short
by TraderEngineering
1
USDJPY SELL BOJ INTRESET RATES AHEAD!!!HELLO TRADERS I am looking USDJPY chart and its now consolidation & trading in a channel. as we know tomorrow is BANK OF JAPAN interest rates coming out and I hope so it will be good for JPY even they are same as in forecast maybe it can be surprising expected the BOJ to end its negative rate policy, which has set Japan's short-term deposit rate to minus 0.1% over the past seven years, Governor Kazuo Ueda told a newspaper interview earlier this month the BOJ might get enough data by year-end to judge whether it could end negative rates, prompting traders to buy the yen to hedge against a possible earlier-than-expected rate hike. While it has bounced back in the last couple of trading sessions due to some “bargain hunting” amid oversold conditions, the downside may not be done just yet. it's just a trade idea friends share your thoughts with us it helps us all. STAY TUNED for more updates.
Short
by APEX_TRADING_ACADMEY
USDJPY → On the way to 152.000? Let's Maximize Profits!USDJPY is on its third leg up in this bull trend and heading toward a Resistance Zone at 149.350. Should we consider shorting the resistance? Or longing a pullback? How do we trade this? 🤔 Longing a pullback is the more probable trade. While we are looking at the third leg up in this bull trend (a situation where we may want to refrain from longing), we do not have any sign of a sell signal in sight. The RSI is over 70.00 near a Resistance Zone which means we should wait for a pullback toward the bull trend line near the 147.500 area and wait for a strong bull response. The Resistance Zone is the result of a high-volume price area; look to the left on the chart to see that data. Once we see a strong bull bar closing on or near its high off of that trend line, it's reasonable to take a long position at a 1:2 Risk/Reward Ratio. Take half profits at 1:1 Risk/Reward (149.600) just into the Resistance Zone, move your take profit up to the entry price to lock in profits, then swing the latter half of your position to 151.100 or until you see a sell signal near the previous high of 152.000. The probability of profit weakens as the trend moves into the third and fourth legs and therefore, the position size of this trade should be smaller to reduce our initial risk. 💡 Trade Idea 💡 Long Entry: 148.100 🟥 Stop Loss: 146.600 ✅ Take Profit #1: 149.600 ✅ Take Profit #2: 151.100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Third leg up in a bull channel 2. Near a Resistance Zone 3. Gap back down to the Bull Trend line 4. RSI at 80.00 and above the moving average, supports a pullback 5. Wait for the price to come back down to the bull trend and bounce to enter a trade 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
1
USDJPY → Bull Trend 1st Leg Complete! Long Again? Let's Answer.USD/JPY broke out of its descending wedge last week in a fantastic move toward the Resistance Zone (Now the Support Zone). We capitalized on that trade, you can find the details in the chart below. Are we ready for another long? USDJPY Trade - Last Week: How do we trade this? 🤔 We finished last week with a wild doji candle (one bar trading range) just above the 30EMA. That may have completed the first leg up in this new bull trend which has yet to be determined if it's a pullback on the macro bear trend or the start of another push up to higher highs. If it's a pullback in the bear trend, then we should expect no more than two legs to the upside before the price falls down again. If this is another run toward 152.000, then we should expect at least three legs to the upside. We do have justification to long on the Daily or 4HR. The Daily chart shows weakness above the 30EMA, the 4HR chart shows us stuck just below the 200EMA as shown in the following chart: USDJPY 4HR Chart: Both RSI's call for a pullback; the 4HR is high and below the Moving Average, and the Daily is around 50.00 but has a gap back down to the Moving Average. We need to wait for a pullback to happen which will likely bring the price toward the bottom of the Support Range around 143.800. At that price area, we need to look for a strong buy signal telling us we're going up for a second leg. Until then, it's best to wait on the sidelines for more price action and an optimal entry. 💡 Trade Idea 💡 Long Entry: 144.350 🟥 Stop Loss: 143.100 ✅ Take Profit: 146.850 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout from Descending Wedge 2. 1st Leg up Potentially Complete 3. Wait for Pullback to Bottom of Support Zone Area. 4. Look for Bull Confirmation near the 143.800 Area to Long. 5. RSI at 52.00 and above Moving Average. Bias to Long, but wait for Gap to Close. 💰 Trading Tip 💰 Traders often get trapped trying to trade the end of a second leg thinking a third leg is coming. Pullbacks often have two legs and when the third leg fails, it's in part because the traders stop loss is hit, causing the price to go the opposite direction of their trade and continuing the macro trend. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
USDJPY SELL RESISTANCE ZONE HERE !!!Hello Traders hop so you are all gr8 and living a happy healthy life its Monday and we can see with opening markets $ is showing some strength which is temporary friend we had posted a bigger TF on Daily which is attached in with chart Friends we can see a retrace is creating a Double Top and showing a trend line moving to north but its going rejection here soon lets see what market brings share ur thoughts on this pair USDJPY it help alote of traders community .............
Short
by APEX_TRADING_ACADMEY
3
USDJPY I Retest and Rejection to DownsideWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
1
USDJPY → Descending Wedge Bullish Pattern! Should We Long Here?USDJPY is forming a descending wedge pattern signaling bullish sentiment and setting us up for a long position. Are we in a position to short now? How do we trade this? 🤔 We have the wicks! But we need confirmation. We've had three pushes down that include two large wicks and some nice bullish price action that followed. What we need now is a push and a close above the Daily 30EMA to confirm the move up. These conditions will give us enough probability to enter a long. I'm playing this trade conservatively because we do have a few items working against us: 1. Lack of a Higher High 2. The Former Support Zone could act as a resistance 3. The Daily 200EMA is right above that former Support Zone (now Resistance). That being said, we have a setup for a long scalp and if we size our position properly, this is a good opportunity to grab some market movement. 💡 Trade Idea 💡 Long Entry: 142.200 🟥 Stop Loss: 140.000 ✅ Take Profit: 144.400 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Descending Wedge after Extensive Bear Run. Bias to Long. 2. Last three touches of Support had Strong Wicks. Bias to Long. 3. Look for break above 30EMA followed by Test of Support. 4. Enter 1:1 Long Scalp with Confirmation 5. RSI at 41.00 and above Moving Average. Bias to Long. 💰 Trading Tip 💰 Descending Wedges signal an increased probability of a trend reversal. Combined with strong buy bars (candles with large wicks on the bottom), creates conditions where a reversal trade is reasonable. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
10
USDJPY I Japanese Yen Will Keep On Rolling BUT Look for This!Welcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
1
USDJPY → Caught in a Bear Trend! About to Reverse? Let's look.USDJPY has been falling in a bear trend since it's double top at last years high of 152.000. We saw a great bull response candle on December 7th and the close of a slightly lower low on December 13th. We may have had the first leg up in a bull reversal, but do we have the data to support it? How do we trade this? 🤔 Short answer, no. We need confirmation that we've hit a strong support zone and we do have *some* data to support that. December 7th, good wick on the underside of a buy candle followed by a run up, end of the second leg down. December 13th, slightly lower low but a strong bull run to the upside late in the week, end of the third leg down. This means we need to be looking for strong support since we're starting to get strong support signals. What we need is a double bottom in the 141.000-141.200 area. A strong buy signal bar and confirmation to provide us with enough probability to enter a long trade. It's reasonable to scalp at a 1:1 Risk/Reward Ratio with hesitancy that this is truly a reversal or even a trading range. We can scalp for now and wait for a third test of support to give us even more probability for a swing trade at a 1:2 or 1:3 Risk/Reward. Stop loss should be below the double bottom and take profit should be near the previous support, now resistance. Until then, it's wise to wait for that support to reveal itself or the alternative, we break down for another 4th leg. At this time, we assess the chart and look for entries again. 💡 Trade Ideas 💡 Long Entry: 142.600 🟥 Stop Loss: 140.500 ✅ Take Profit: 144.700 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Strong Bull Response Candle followed by slightly lower low, third leg down. 2. Strong Bull candles at the end of the last run up, first leg up in Bull reversal? 3. Pulling back to previous low, look for Double Bottom or Breakdown to new Low. 4. If Double Bottom, look to Long 1:1 scalp half position size, may swing other half. 5. RSI at 45.00 and above Moving Average. Reversal Trade Opportunity, Wait for Confirmation. 💰 Trading Tip 💰 Trends typically have three legs in either direction. Signals of a reversal include strong buy or sell bars with large wicks, higher highs and lower lows get weaker, and responses to the reverse direction get stronger. Confirmation lies with double and triple bottoms with a strong candle closing on or near its low/high. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
USDJPY → Bear Run Complete! Bounce back to 152.000? Let's AnswerUSDJPY has officially broken out of the bull channel it's been in since February 2023 and fell hard into the Weekly 200EMA! The final Daily bear candle closed with a large wick over 1/3 the total size and the following Daily candle closed with a long tail as well. Does that mean we're going up? How do we trade this? 🤔 A bear breakout on a bull channel after the double top reversal is usually a signal that we're about to enter a trading range (sideways price action). We have a good show of Support at the 200EMA and possibly up to the previous high in the bull channel between 143.850 and 144.850, but we need confirmation to ensure that this Support zone is real which includes a strong bull followthrough candle on the Daily chart. Look to long toward the bottom of the trading range after it's been established, an entry around the 145.000 area is reasonable looking for a 1:1 scalp or 1:2 swing on a lower timeframe. 💡 Trade Idea 💡 Long Entry: 145.500 🟥 Stop Loss: 143.200 ✅ Take Profit: 150.100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bear Breakout of Bull Channel, Entering Trading Range. 2. Three Legs Down to Daily 200EMA. 3. Two Large Wicks on 200EMA, Look for Confirmation. 4. Trend Change, Establishing Trading Range between 145.000 and 152.000. 5. RSI at 35.00 and below Moving Average. Wait for Confirmation to Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
2
USDJPY → Drop to 144.000!? Or Fly back to 152.000? Let's Answer.USDJPY fell from the double top as predicted in last week's analysis, hitting my take profits all the way down to 147.120. Will there be more downside or are we ripe for a rip back to 152.000? How do we trade this? 🤔 This analysis shows us three clean support areas: 146.000 (Bull Channel Support), 145.000 (Previous High), and 144.000 (200EMA). It's reasonable to zoom into small timeframes and look for short scalp setups down to those levels. Since the macro trend is bullish, I would be careful to hold any shorts now that the gap from 152.000 has closed the majority of the way. The RSI is still below the moving average and has *some* room to fall, supporting the short-term bear bias. Long-term, look to get long! We'll need a strong show of support with a bull signal bar and confirmation candle closing on or near its high and for the RSI to head upward breaking above the Moving Average. 💡 Trade Ideas 💡 Short Entry: 146.850 🟥 Stop Loss: 150.000 ✅ Take Profit: 143.700 ⚖️ Risk/Reward Ratio: 1:1 Long Entry: 145.500 🟥 Stop Loss: 143.200 ✅ Take Profit: 150.100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Channel, Bias to Long. 2. Double Top Reversal Signal. Still Gaps to Fill. 3. Wait for Support at Channel Support, Previous High, or 200EMA. 4. Previous Channel High of 145.000 Final Target. 5. RSI at 35.00, below Moving Average. Supports Short-term Short, Long-Term Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
USDJPY → Falling to 1.46? Or Rocket to 1.52? Lets Answer That.USDJPY fell below the 30EMA to my previously predicted area of 147.100 then immediately bounced back to 150.000 only to stall and leave us wondering what the next move will be. How do we trade this? We're in a bull channel which should put us in a bias to long. But we have a double top reversal signal at a key level of resistance (the previous Weekly high of 152.000 staring us in the face. We need to see what happens here at the 30EMA. If we get a strong bear bar closing on or near its low, shorting to the bull channel bottom around 146.300 or even the previous high of 145.000 is reasonable. The protective stop should be just above the 30EMA. You can also wait for a long at the bull channel support or previous high support, looking for a bull channel signal bar and confirmation closing on or near its high. Protective stop just below those levels with a take profit at the 30EMA and then the previous high of 152.000. Key Takeaways 1. Bull Channel, Bias to Long. 2. Double Top Reversal Signal. Close the Gap to Bull Channel Support. 3. Fell below 30EMA, Gap to Bull Channel Support 4. Previous Channel High of 145.000 Final Target. 5. Wait for Bear Signal Bar for Confirmation to Short. 6. RSI at 47.00, below Moving Average. Supports Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Short
by TraderEngineering
USDJPY LONG! EYES ON USD DATA!!Hey Traders, What we believe UJ price moves as mentioned on the chart, So we expect price to break just above and go higher, Therefore, how you can jump in this trend? Answer is quite clear, in HT we confirm that we are in extremely bullish move, and according to the JPY data we going to have more pressure on JPY currency, So how we enter! Look I mentioned toppest green area, as soon as we confirm BMS in 1h or 30M, we can place an order in first POI bellow, so I will try to share with you guys as soon as I get the position So just be careful of data from USD as we have NFP at front, However still I believe, price can move higher and higher Any question comment me bellow, @FxShzd
Long
by FxShzd