Get started

Usdjpysetup

UsdJpy to resume its uptrend?In yesterday's comment, I said that the long-term trend for UsdJpy is clearly up and the drop from 111 is just a correction. Yesterday the pair has finished the day very strong and closed above the important 108.30-108.50 important zone, confirming a false break A small retracement could follow at this point and this could be a good opportunity for bulls to open longs As I said, 108.30-108.50 is now support, and bulls can have 111 as a target
Long
by Mihai_Iacob
8
USDJPY Technical Analysis ApproachDuring this mark up, I will be providing you with a visual break down of my prediction of USDJPY! Before you take a look at this mark up, please be sure to understand that everything is color coordinated to make it easier for you to understand my prediction and perspectives of the market. Listed below are the steps to my prediction… 1. Yellow Trend Line = Support and resistance mark up.. Helping me identify which way the mark is trending 2. Green Lines = represents the higher highs and higher lows of the market. ORRRR the lower highs, lower lows.. But in this example, it's HIGHER HIGHS, HIGHER LOWS 3. Blue = The kill zone. Where I am looking for price to make its move. Previously at 109.368 there was a massive drop to the downside. 4. Pink Box = It is a bearish candle that represents where price pushed up, testing the highs BUT!!! Ended in a more bearish position. Following a lower low, lower close of the next bearish candle. After switching from the 1-hour time frame and viewing the RSI on the 1-day time frame, the RSI is reached the overbought conditions of the market which is a big indication that price could reverse into a sell. You can either wait until it breaks the kill zone (which consist of being disciplined and patient) or follow your own trading analysis that you think is right.. If you have any questions about my mark up, please be sure to leave comments below and I will answer your questions as quickly as possible. Thank you!
by investwithk
USDJPY | Perspective for the new weekMy last publication (see link below for reference purposes) on this pair saw price move against expectations as it continues to find Higher Highs. From a weekly perspective, the successful Breakout of Y104.150 confirms the completion of a Reversal pattern with confidence that supports a Bullish bias in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Trendline | Breakout | Supply & Demand | Harmonic pattern (AB = CD) Observation: i. Since the Breakout of Y104.150, I am of the opinion that the correction phase is yet to complete hence patience is required at this juncture. ii. In this regard, I suspect that the correction phase might evolve into a Harmonic pattern (AB = CD) before the rally begins. iii. The line drawn under pivot lows ( Pivot I, II & III) explains and graphically represent the prevailing direction of price (Uptrend). iv. It is very possible that we might experience a temporary Breakdown of this Trendline due to the Harmonic expectations in anticipation of the rally. iv. The significant Breakout of Key level confirms that the Supply Level no longer holds as the sharp rejection of Y104.400 on the 10th of Feb. 2021 suggest we might be having a new level for Demand @ Y104.400/103.800. v. Should price decides not to decline into the Demand zone in the coming week(s), a significant Breakout/Retest of Y105.100 could be a buying window to take advantage of. Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 7 to 12days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4