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SHORT IDEA H4 UPDATE - FALSE BREAKOUTBased on market indicators and the Fibonacci fan measure I am still bearish on USDJPY with some tweaks on the entry & TP points. We are more than likely experiencing a period of retracement after a fall from price 115.600 down to 114.200. As illustrated above I am expecting the pair to go short. A safe entry area is .75 - .618 potentially down to 0. Resistance around 115.300. After the price meets support levels between 113.800-113.600, I am expecting a strong upward trend for USDJPY including hitting new all time highs. Trade safe.
Short
by DollarYenQueen
1
USDJPY Reversal Pattern - Turning BEARISH? 3 Options For Entry! Hi All, As you can see, I am bearish on USDJPY. I am expecting price to rise next week and hit the key levels on the image above, which we can start looking for momentum to the downside and confirmation that it will turn bearish for the medium term. Keep an eye on the key levels and see how price will respect and react to them! It should give you a really nice opportunity to enter your Sells! I hope this post can help you. I will be posting a simplified version with the "very likely" option, just so it can be clearer for you. Let me know your thoughts - whether you like any of the 3 ideas to take your own trades or if you are bullish in this pair! Have a great and profitable week all! Cheers, Gaspar_Trader
Short
by Gaspar_Trader
USD/JYP (US DOLLOR VS JAPANESE YEN) MAKING TRIANGLEUSD/JPY (WEEKLY) making a contracting triangle on a Primary degree B of Cycle degree 4th. We are currently on an E wave of an Intermediate degree of a triangle. we are most likely to come down for A of E of a triangle. We can see 3 waves down as an A-B-C pattern on the E wave of the triangle. Most probably we are just finished D of the triangle and we are likely to push down for E as my preferred count (projected by the black line) and if we have not finished D of the triangle so we can go to break recent high as an alternative count (projected by the red line) and after that, we will come down for triangle continuation. DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
Long
by anantadhungana
USDJPY | Good Buy Opportunity If you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of USDJPY, I think we are going to see an upward movement. If you are going to go long now, make sure to place the stop below the previous support area . What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by MaxProfHacker
USD/JPY Technical Analysis: Stable Ahead of US DataThe USD/JPY pair's stable performance is expected to remain until investors and markets identify and interact with the important events of this week, starting with the FOMC. The USD/JPY is stable in a range between the level of 113.27 and the level of 113.72 at the beginning of this week's trading, in the same performance as the last trading sessions. Commenting on the performance and outlook, Goldman Sachs currency strategist Zach Bundle said, “The recovery in risk assets and more stability in front interest rates in the US allowed the dollar to fall from its highs in late November. The Fed is likely to determine the direction of the currency in the near term,” the analyst added, “If the “dot graph” at this week’s FOMC meeting shows the average of two highs for 2022, we may see an extension of the recent weakness, while it is likely that A baseline of 3 or more hikes in 2022 causes a resurgence in the US dollar (markets are currently pricing in a 2.6 Fed rate hike next year)." The US central bank is widely expected to speed up the easing of its quantitative easing program this week so that it ends sooner than the June 2022 date envisaged and announced in November. That should create scope for a rate hike sooner than previously thought likely by the market and its updated dot chart on Wednesday for policy makers' expectations which will provide ample evidence of how soon that could happen. This is the main point of interest for the market after 10 voting members of the Federal Open Market Committee - a decisive majority - indicated in recent weeks that they might support a decision to end the $120 billion per month quantitative easing program sooner this week. On the other hand, it affects morale. Chinese leaders on Friday pledged tax cuts and support for entrepreneurs to shore up sluggish economic growth after a campaign to rein in soaring corporate debt that triggered bankruptcies and defaults among property developers. A statement issued after the annual planning meeting led by Chinese President Xi Jinping called for "maintaining stability," reflecting concern about rising risks after economic growth slumped to an unexpectedly low 4.9% over the previous year in the quarter ending in September. "Our country's economic development is facing triple pressures represented by contraction in demand, supply shocks and weak expectations," the statement added. The ruling Communist Party is trying to keep the world's second-largest economy on track while forcing real estate developers and other companies to cut debt, which it fears is dangerously high and threatens financial stability and long-term growth. China was the first major economy to recover from the coronavirus pandemic, but that recovery quickly stalled. The economy grew 7.9% year-over-year in the second quarter of 2021 but slackened after tighter restrictions imposed last year on borrowing by real estate developers caused a slump in construction and sales. The planning meeting, the Central Economic Work Conference, outlines the party's economic agenda for the coming year. Officials usually begin to announce the details at the ceremonial legislature's annual meeting in March. The leadership promised tax cuts and "enhanced support" for private enterprises that generate new wealth and jobs in China, but did not elaborate. She said Beijing would invest in infrastructure but gave no indication of large-scale spending to stimulate the economy. Investors are waiting to see what happens to Evergrande Group, a developer that financial analysts say is increasingly likely to default on its $310 billion in debt. Smaller developers have defaulted on millions of dollars in debt or went bankrupt. The government has tried to reassure the public and investors that the economy can be protected from the financial fallout of Evergrande. China's central bank governor, Yi Gang, said Thursday that financial markets can handle Evergrande, noting that Beijing has ruled out a bailout. Friday's statement also promised more antitrust and other enforcement which it said would boost market players' confidence. Technical Analysis How the USD/JPY closes for the year will depend on what will be issued by the US Federal Reserve this week. So far, the currency pair is in a neutral position with a bearish bias, and stability below the 113.00 support will increase the bears' control to move further downwards. According to the performance on the daily chart, the next bearish targets will be 112.50, 111.75 and 110.60. On the upside, and according to the performance over the same time period, the 114.20 resistance will be vital for the bulls to launch further and change the current situation. In addition to the expectations of raising interest rates, it is necessary to take into account risk appetite
by SmoothJB