USDJPY - Long active ✅Hello traders!
‼️ This is my perspective on USDJPY.
Technical analysis: Here we are in a bullish market structure from higher timeframe perspective, so I am looking for longs. I expect bullish price action from here as price took sell side liquidity from old low, filled the imbalance and rejected from bullish order block.
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Usdjpyshort
USDJPY I Wait for pullback to structure high
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USDJPY Short Ideawe can see continuation in dollar getting weaker so we can only look for sells on usdjpy as it gives us clear price action,
at the moment we are in pull back phase from where we can expect continuation to the down side.
expecting price to break some levels on 30min TF so we can get a confirmation entry.
USDJPY Analysis. SHORT SWING SIGNAL!!!Hello Everyone i want share my idea about USDJPY.
Japan currency is dead, its coming downside clear and beautiful but in this week we had some rejection from buyers and this rejection was strong.
In my opinion dollar will start strong bearish movement for that i will try to catch movement, at the chart we have some good rejection from sellers which broke range and gave us new high after strong downside movement. i think this fall will continue to daily support which is at 144.9.
Open short position - 149.6
Stop loss - 151.1
Take Profit - N/A
ALWAYS MAKE YOUR OWN RESEARCH!!!
USDJPY: Anticipating Bearish MomentumHello traders,
Trust you are doing great.
Here is my concise Elliott wave view of the USDJP pair.
Trend : Bearish (Local trend) initiated at 151.912.
Structure : Wave 4 ABC correction, began at 147.150, appears completed at 149.746.
Anticipation : Expecting impulsive bearish structure in Wave 5.
Confirmation : Await breakout below 148.889 to the downside.
Invalidation Zones : 149.760 and ultimate invalidation at 150.059.
Targets : Downside objectives at 147.150 and 146.630.
Cheers and happy trading!
USDJPY: Asian foreign exchange increased, USD hit 3-month lowMost Asian currencies rose on Tuesday, pushing the dollar to a three-month low as confidence grew that the U.S. Federal Reserve is done raising interest rates.
However, gains for most regional currencies were limited this week as traders remained cautious on a number of key economic indicators. This week, all eyes will be on the PCE price index, the Fed's preferred inflation measure.
The Japanese yen had a particularly strong day, rising 0.3% on the day, as traders said they expect the Bank of Japan to exit its ultra-easy stance in 2024. Japan's stable inflation figures released last week further support this assumption. Thanks to the Fed's reassurance, the yen continued to recover from the 150 yen level. The immediate focus will be on Japan's industrial production and retail sales figures, which will be released later in the day. week.
USDJPY Shorts from 149.500 down towards 147.500My bias for USDJPY is bearish due to the fact that price has reacted off the last supply from the whole chart, and has now given a CHOCH and BOS's on the higher time frame. Price has also took all the liquidity that was left above leaving price to now melt downwards and target all the asian lows, trend lines, equal lows, and imbalances that was left previously.
Currently, price has reacted nicely off an 8hr supply which we can enter imminent sells to target the (8hr) demand below at 147.500. I am expecting the 8hr demand to cause a retracement back up but from there we can take short term buys up to a premium supply around 150.500. As Wyckoff distribution has been completed we can look for the asian high to get swept in order to enter our sell positions because a CHOCH has already been presented to us on the 15min.
My confluences for USDJPY Shorts are as follows:
- Price has taken all the magnets that lies above and reacted off the last supply of the chart.
- Price has CHOCH'd and BOS on the higher time frame confirming a bearish trend.
- Lots of liquidity to the downside in the form of trend line liquidity, asian lows, EQLs and IMB's
- Wyckoff distribution has been completed on the Higher time frame and now melting.
- A re accumulation has been presented inside our current 8hr supply in which we have got a clean reaction from.
- Dollar (DXY) is also temporarily bearish for me so it matches with my sell bias for this market.
P.S. even though we are bearish I would also be interested in buying from 147.500 up towards 150.500 or higher to then eventually sell again. For now, we will see if price reaches that demand below as short term buys will be interesting there. Remember being adaptive is very crucial and because I am a day trader, I can counter trend trade up to better POI's to then enter pro trend trades.
USDJPY - D1\MNUSDJPY
MN - The price may push off from the level, a potential rebound to the values of 127.111
D1 - The price has left the ascending trend channel, a potential retest is now forming (which forms a potentially 3-wave structure) and a continuation of the downward movement from a strong level on the MN timeframe.
H4 - The price has broken through the triangle line, which may indicate a continuation of the fall.
Goals for this position can be taken from levels on D1.
What can you expect?
You can consider entering from the level of 141.018 with further movement to the target of 139.550. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave - 149.910 or 1st wave - 152.015
Short
Targets 146.150 - 144.197 - 142.417 - 139.550
USDJPY Navigating Retracement&Identifying Short Opportunities!Introduction:
The USD/JPY pair has experienced a dynamic week marked by a double top pattern, providing insightful clues for traders. While recent days showcased a retracement and an apparent uptrend tendency, the most recent price action is signaling a potential shift.
Retracement Dynamics:
The past week witnessed a retracement in the intense and continuous bearish flow of USD/JPY. The retracement is characterized by an uptrend tendency line, suggesting a temporary shift in market sentiment. However, recent hours are indicating a potential reversal, prompting a closer examination of key technical levels.
Fibonacci Retracement:
Zooming into the 4-hour timeframe, the current movement aligns closely with the 61.8% Fibonacci retracement level, centered around the price of 0.750.700. This level serves as a critical reference point, providing insights into potential reversal zones.
Bearish Order Block on Lower Timeframes:
Detailed analysis on smaller timeframes, specifically the 1-hour and 30-minute charts, reveals the formation of a Bearish Order Block. This is a crucial technical pattern signaling a Short Position opportunity. The identified price range of 0.750.600 becomes significant for traders considering a short entry.
Break of Uptrend Tendency Line:
A pivotal moment in this analysis is the recent break of the uptrend tendency line. The breach of this trendline, coupled with a reaction around the strong high of 0.750, suggests a potential re-establishment of the bearish sentiment.
Conclusion:
In conclusion, the USD/JPY pair has undergone a retracement in the past week, challenging the prevailing bearish flow. However, with the recent break of the uptrend tendency line and the formation of a Bearish Order Block on lower timeframes, there is a compelling case for a short position opportunity. Traders are encouraged to closely monitor the price action around the 0.750.600 range, as it may serve as a key entry point for those anticipating a continuation of the bearish trend. As always, risk management and vigilant monitoring of price dynamics are essential for traders navigating these evolving market conditions.
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.
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UDS/JPY Falling to 146.000!? Double Top Reversal Signal CompleteUDS/JPY has a double top reversal signal on the Daily candles and a triple top on the 4HR candles with a massive gap to fill. This reversal signal happened at a key level, 152.00 which is the previous high from October 2022. As shown in my previous prediction, a short position is reasonable at this level. The double/triple top is the confirmation of that short, which increases the probability of profit significantly.
If there was a time to short in this bull channel, it would be now .
Key Points
1. Double Top Reversal Signal on the Daily Chart
2. Triple Top Reversal Signal on the 4HR Chart
3. Gap to bottom of the channel at 146.000
4. The lowest target price is the Previous Channel High of 145.000
5. RSI at 52.00, Plenty of room to fall and supports #1-4
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USDJPY Long Term SELLING Trading IdeaHello Traders
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