Get started

Usdjpytrade

USDJPY remain bullish for a further push upBuy above 111.31. Stop loss at 110.45. Take profit at 113.06. Reason for the trading strategy (technically): Price has made a retracement to its entry level and looks set for another bounce for a further push up. We remain bullish looking to buy above 111.32 support (Fibonacci retracement, horizontal pullback support) for a further push up to at least 113.06 resistance (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance). RSI (34) has bounced off nicely from our pullback support at 52% and has good upside potential for us to play the rise from here.
Long
by MEX_Exchange
USDJPY dropping perfectly as expected, remain bearishSell below 109.66. Stop loss at 108.23. Take profit at 110.40. Reason for the trading strategy (technically): Price has dropped strongly towards our profit target. We remain bearish below 109.66 resistance (Fibonacci retracement, horizontal overlap resistance, for a further push down to at least 108.23 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below our 96% level and has good downside potential. Intermediate pullback resistance is seen at 40%.
Short
by MEX_Exchange
USDJPY dropping perfectly, remain bearish for a further drop.Sell below 110.66. Stop loss at 111.25. Take profit at 108.23. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area as expected and is on track to reaching our profit target. We remain bearish below 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a further push down to at least 108.23 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below our 96% level and has good downside potential.
Short
by MEX_Exchange
USDJPY Strategic View: Profit target reached, remain bearishSell below 110.60. Stop loss at 112.20. Take profit at 108.15. Reason for the trading strategy: Price has dropped perfectly from last week and reached our profit target. We remain bearish looking for price to drop further below 110.60 resistance (Fibonacci retracement, long term descending resistance, horizontal overlap resistance) towards 108.15 support (Fibonacci extension, horizontal swing low support). RSI (34) sees pullback resistance at 56% level which is holding price down nicely.
Short
by MEX_Exchange
USDJPY profit target reached, time to turn bearishSell below 110.66. Stop loss at 111.25. Take profit at 109.14. Reason for the trading strategy (technically): Price has bounced up perfectly and reached our profit target. We now turn bearish with new elements coming into play. We look to sell below 110.66 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to at least 109.14 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below our 96% level where we expect a strong drop from. Correlation analysis: We’re expecting general JPY strength with a drop expected across AUDJPY and USDJPY today.
Short
by MEX_Exchange
USDJPY dropping nicely, remain bearishSell below 114.07. Stop loss at 114.77. Take profit at 112.90. Reason for the trading strategy (technically): Price continues to drop nicely from our selling area. We remain bearish below 140.07 resistance (Fibonacci retracement, horizontal overlap resistance). We also tighten our stop loss to 114.77 to protect our profits. Profit target is at 112.90 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3) is seeing pullback resistance at 69% which corresponding to the reaction we are seeing off 114.07 in price. We hope to see a stronger reaction for a further drop.
Short
by theforexarmy
USDJPY profit target reached perfectly again, time to buyBuy above 112.58. Stop loss at 112.21. Take profit at 113.75. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) is seeing strong support which is signalling to a price bounce.
Long
by theforexarmy