Usdjpysell
USDJPY Short Term USDJPY will be heading down as it reached the top of the channel.
DXY is also falling as I predicted earlier today.
USDJPY Sell ideaUSDJPY pair has formed an ascending channel on H4 timeframe and now it on the upper trendline so we are looking for a sell setups
if we zoom in to M30 timeframe we can see that it has formed a valid trendline with 4 touches and now we are waiting for a momentum candle close under the last swing standing to enter a sell position
Good Luck guys
USDJPY - End of Bull RunI believe this area could provide for a solid retracement back into the key level marked.
Whatever goes up must come down. This pair should follow my arrow marked.
USDJPY SHORTPotential 3rd touch in usdjpy structure and a small structure is formed with a double top providing a beautiful opportunity to go short .
Its going to be short according to my analysis 🙏
USD/JPY SELL (RETRACEMENT)USD/JPY has been in an uptrend respecting the green ascending channel .
In my previous analysis i expected the price to buy until it reaches the upper trend line continuing the ascending channel, which followed the analysis and reached tp.
I expect the USD/JPY to undergo retracement and expect the price to sell until it reaches the bottom trend line , thus continuing the ascending channel .
The expected movement of the price is shown by the grey path drawn .
USDJPY push higher to 106.600 then move lower to 105.400Hi Guys,
This is one of my students chart analysis that we took in lesson to show her how forecasting is done. This is all independent work. Her reasonings are below. (I have full rights to use this)
1. Reason why we've forecasted this trade is because...
1. 106.600 is our entry because it is a whole number, this is where banks and financial institutions come into the market.
2. 4HRLY is overbought... However daily timeframe is oversold So I would expect a bounce lower and then a move higher so it corrects itself on the daily timeframe for when it reaches our entry it is a valid short position.
3. Expecting a bounce from the upper trend line.
4. Within the 106.600 and the 106.800 there is a indication (due to previous data) that at this price the currency generally speaking tend to reject from.
Stop loss is 40 pips
Take profit is 100+ pips
USDJPY ABC correction in formation?USDJPY has completed 5 impulse waves. 1-5.
Based on the formation, we'll have a C leg down soon completing the ABC correction.
USDJPY double top. We've a double top on UJ. coinciding this with Elliot wave ABC correction, we're going down from here.
USDJPY Sell Trade (My View)A Quick Short Here With USDJPY Is Looking Very Nice: Fib Indicates TP 1$2
USDJPY buy from current levelUSDJPY buy from current level
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USDJPY Holding Below 105.71See Signposts for key price action details.
After price crossed below this level for the first time, it made an attempt to trade above it. This did not succeed.
We are expecting further downside, but we are seeing a slight uptick in the dollar index (DXY) in the short run.
The 1-hour chart is also a concern as price is holding just below this level for a bit longer than desired. Largely monitor for the time being.
USDJPY ANALYSIS ANALYSIS
--------------
DAILY TF: BULLISH CANDLES SHOWING WEAK MOMENTUM
4HR TF: BREAK OF RECENT LOWER HIGH
1HR: RECENT HIGHER LOW BROKEN
PLAN OF ACTION
----------------------
- WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR TF TO COMPLETE BEFORE TAKING SELLS
- IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND BUY TRADES
ENTRY REASON
--------------------
- BREAK OF CORRECTION PHASE
STOP LOSS @ TO BE DETERMINED AFTER CORRECTION
TAKE PROFIT @ NEXT ZONE
USD/JPY Short to 0.618 FibThis may be a risky one but looking to jump on a short from current price down to 0.618 Fibonacci as I was previously aiming for. There is support between current price and that target which it has just rebounded from, that is what makes this risky. Also JPY has been weak recently so this may be a risk not worth taking for some people.
TP - 104.264
USD/JPY Look For Further DropThis plummeted yesterday and this morning which made for a great trade on yesterdays idea to short. This is now at support so I expect some hold up at this point with a slight retrace before potentially breaking through the next support.
I do not expect much resistance to breaking this support so a short can be taken on the retrace at around 105 would be good. This approach is also to make up for the small risk/reward of the trade if I took the normal approach of entering after breaking support and entering on the retest.
TP is at 0.618 Fibonacci - 104.264
