Usdjpysignals
USDJPY Buy SignalPattern: 1D Channel Up.
Signal: Bullish as the price found support on the 1D MA50 making a Higher Low within the pattern.
Target: 109.800 (the Lower High on the 2019 Descending Triangle).
*note: if the Golden Cross (1D) takes place you may extend buying up to 111.800 as it happened in July 2018). If the Golden Cross fails to form, abort as another sharp decline towards the 1M Support would be possible).
This is an idea I first accurately calculated in August on the exact 105.00 bottom (see the chat below):
USDJPY - SELL NowLook at the Fibo level s and resistance. Strong resistance which is tested couple of times but couldn't break. 200EMA & Bollinger bands working as a resistance too and UJ is overbought situation as well. In the mean time "W" pattern was formed in the chart and price starting to bearish movement.
Note: Trade at your own risk.
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USDJPY - Sell NowUSDJPY Sell Now...
Middle of the bollinger band line is crossing the 50EMA means its a starting of a bearish movement. RSI shows that when its comes down from towards to up and if its turn from the 55.33 level (red line in rsi) price will come down for certain area. It means there is a confirmation of USDJPY is good for sell now.
Take profit area mentioned as yellow box and SL is up to you.
Note: Trade at your own risk and this analysis is without any fundamentals.
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USDJPY Buy SignalPattern: Descending Triangle on 1M.
Signal: Bullish as the price made contact with the 1M Support Zone.
Target: 109.000 (the 1D Resistance). For risk seekers, if the Golden Cross (MA50 over MA200) takes place on 1D (as seen on the chart) it can extend towards the 112.00 1W Resistance.
USDJPY Wait for a break outPattern: Triangle on 4H.
Signal and Targets: Bearish if the Triangle breaks downwards (TP 110.245), Bullish if it breaks upwards (TP 112.500).
*Note: First time on 1D that the pattern makers Lower Highs instead of Lower Lows. This enhances the potential of a bearish break-out.
USDJPY TRADE ALREADY HIT TARGET 1 AS POSTED AND WE CONTINUE!After MOD banned my first successful trade i re-publish it with the same text and the continuation:
The pair extended its recovery on Tuesday, opening the door for more strength to occur. On the downside, support lies at the 105.00 level, where a break, if seen, will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the 103.50 level. On the upside, resistance resides at the 106.00 level. Further out, we envisage a possible move towards the 106.50 level. Further out, resistance resides at the 107.00 level with a turn above here aiming at the 107.50 level. On the whole, USD/JPY -0.15% faces further upside pressure on recovery.
USD/JPY -0.15% 4-Hour price action appears capped by the previous support, which is now newly found resistance, at 106.00. Intraday sentiment favours below 106.00, potentially targeting additional downside support at 104.70, followed by the 104.07 and 103.22 levels. Alternatively, a confirmed breakout above 106.00 could target additional upside resistance at 106.74, which is the 200-period moving average, as well as the 23.6% Fib retracement from the Jan 5 move from 113.30 high to the current swing low at 104.70, and also the falling resistance trendline . Only a confirmed breakout above the 106.74 level would change the intraday outlook, targeting additional upside resistance at 108.00 (38.2% Fib), followed by 109.00 (50% Fib) and, ultimately, 110.00 (61.8% Fib).
PART 2 OF THE TRADE
Now we can see a shallow pullback so we have a bullish scenario and if that's the case and 106.00 important level holds we expect the second target at 107.800 to unfold as this bull flag we are watching now at 4hour chart timeframe will develop.
So if we can copy the AB trend line and we create the CD to project our targets and we can see that almost coincides with the second target we had at 107.800!
TECHNICAL OBSERVATIONS
1.Price is currently below 200EMA which favors the short trades.
2.Stochastics are in neutral area at 50 level signaling possible trend reversal and currently an even-handed war between buyers and sellers.
3. Ichimoku clouds are above the price line both at 4H chart and daily chart .
LONG TRADE
ENTRY AT 105.450
STOP LOSS AT 105.200
TP1 AT 106.500
TP2 IF FIRST TARGET HOLDS 107.800 LEVEL
SHORT TRADE
ENTRY AT 104.500
BUY STOP AT 105.500
TP3 AT 103.200
THANKS FOR SUPPORT!!
HAPPY TRADING KEEP FOLLOWING FOR MORE PROFITS!
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