USDJPY top-down analysisHi Guys, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis video. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover my next analysis.
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USDJPY SHORT IDEAThe USD/JPY pair hit 110.19 on Friday, its highest since early April, retreating afterwards to close the week with gains in the 109.80 price zone. The pair soared amid the prevalent dollar’s demand, easing ahead of the close on the heels of lower US government bond yields. The yield on the benchmark 10-year Treasury note peaked for the day at 1.62%, settling at 1.58%. Meanwhile, Wall Street managed to close in the green, although gains were limited as higher US inflation figures weighed on the investors’ mood.
Therefore, the Bearish bias will be suggested in the upcoming sessions unless breaking 110.50 and closing with a daily candle below it .
USDJPY Short (Sell) Trade Setup IdeaUSDJPY has been making steady gains but has now come into a strong resistance level and formed a bearish engulfing candlestick pattern on multiple timeframes including the 4-hour. We have here an opportunity to short this pair back down as it retests the resistance level as new support.
Whilst the weekly and monthly timeframes are still bearish, this setup is against the 1-hour, 4-hour and daily timeframes.
USD/JPY WEEKLY OUTLOOKI remain bearish on this pair and personally i see this spike as prime time to go short, either it was a fake break below last week. or we use the fact that fundamentally usd is in a bad way. jpy fell on oil spiking, i predict oil to revert because lockdown V2 is coming across countries despite pfizer news. im currently in a short term sell on the pair, to retrace some of the spike and see what happens.
USD/JPY - AnalysisUSDJPY Technical analysis
Resistance Levels: 105.440, 105.850, 106.101
Support Levels: 104.934, 104.066, 104.372
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USDJPY - Full Analysis Breakdown Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on USDJPY, if you any questions on the pair let me know in the comment section below.
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