USD/JPY Technical Analysis.Currently, USD/JPY is trading at 103.91. The pair is trading in downward resistance and support wedges and can continue the same trend if it breaks the support level at 103.79. If the price breaks the support level, then it can continue the downward trend and hit the target price at 103.14.
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
Usdjpyshortsetup
UsdJpy to break supportUsdJpy is in a downtrend for quite some time and clear support for this pair is just above 104 zone.
I believe this support will be broken and the pair could drop to 103 or even 102
Yesterday UsdJpy had a spike above 105 and reversed aggressively confirming strong sell in that zone.
Rallies should be sold and only a daily close above 105.20 would delay this outlook
Usd/Jpy JAPENESE YEN TYPE BEATLooking at a Supply / Demand That Hedge funds etc. use.
~Careful of big spikes at zone that chase stop losses (Spread SL farther than normal)
~Win / Loss Ratio is minimal of 1:5-6
~Patience is key.
~Emotionless trading.
~Already in a buy (riding up to Supply / Demand Zone)
Let's Make Money!
USDJPY Trade Plan: Sell on Breakout ConfirmationUSDJPY is making a series of 1-2, i-ii wave structure. This usually indicates a strong impulse move in wave (3) of 3.
Price also rejected a resistance level with two pin bars on the daily chart.
Expecting further decline on UJ once the price breach the green lines on the chart. The breach of the red line will invalidate this setup.
What's your thought on UJ? Kindly let me know in the comment.
Thank You.
Veejahbee.
USD/JPY SHOULDER HEAD SHOULDER ON 1HR (SHORT SET UP)TITLE/(DATE)- SELL USD/JPY
ASSET- FOREX
PLATFORM-MT4
ORDER TYPE- Sell limit
Time Frame-1hr
ENTRY PRICE 1- 105.980 ✅
ENTRY 2- 106.080 (pending)
STOP LOSS- 106.280 (30 PIPs)
TAKE PROFIT 1- 105.680(30 PIPS)
TAKE PROFIT 2- 105.380 (60 PIPS)
TAKE PROFIT 3- 105.080 (90 PIPS)
TAKE PROFIT 4- 104.780 (120 PIPS)
STATUS: active
USDJPY: Watch For Sell After CorrectionHi Traders,
UJ looks set for a big wave to the downside. Price just completed an ABC expanding flat in wave 2 and now we are looking for a wave 3 that could go all the way to 103.90. Use an appropriate stop loss, trade with caution and look to join short positions only when you get confirmation.
Regards
Wave Theorist
USD/JPY Possible Short Setup One on the H4 Four Hour ChartUSD/JPY Possible Short Setup One on the H4 Four Hour Chart
The daily chart is sideways but it does have some momentum downwards previously
The dollar index is overall downtrend but taking a pause right now. Lets see if this is a potential short setup.
USDJPY SELLCurrently on H1 Timeframe we can see rally-base-drop form. This form making supply zone. The price may go bearish until meet the demand zone. Moreover, on H4 we can see bearish candle engulfing. We may put sell order, which its stoploss slightly above the supply zone and put takeprofit on the demand zone. This is a good setup as small stoploss zone but big takeprofit zone.
USD/JPY, Breakout of Key Level should move the price DownWe think, that there will be a bearish continuation, because:
- price is in a downtrend
- price broke the key level
- there was a fake breakout of this mirror level
- there were multiple rejections from the level
- it seems not realistic for the price to break above