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Usdjpyshortsetup

USDJPY | Strong Bearish Trend. When it comes to USDJPY , a while ago, we've seen a strong impulse to the upside. And got rejected from a resistance. Right now price is staying near a supply zone as well. We also seen a multiple rejection from that area as well, which clearly shows the selling strength. Looks like there aren't many support areas till S1. So you could start booking profit from S1, which was the previous resistance area. If you find this technical analysis useful, please like & share our ideas with the community. 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.
Short
by maxprofwizard
USDJPYWhat's up guys! This is a really great setup from my own perspective Price has been bullish until it approaches a major resistance zone and the momentum is killed on the larger timeframe An upward trend line around a major resistance zone and refuses to make higher highs, it also breaks it but as a conservative trader I want to see More bears take control before my entry , I'm looking for an entry on the break of the H1 minor support zone indicated in green There's already a cross of the Moving averages too , what do you guys think ?
Long
by newschooltrader
USD/JPY Technical Analysis.Hello traders, USD/JPY is trading at 108.73. The pair is trading in resistance and support wedges in an upward channel and can break the support level to start a new down trend, as the long-term trend is down trend. As the price has already touched its support level and gave a small pullback now it is again going towards support. If the price breaks the support level at 108.60, it can start a new down trend and then its targets will be first target at 108.32 and second target at 108.01. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5