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Usdjpytrade

USDJPY (Continuation)The previous USDJPY thread became too long to remain practical hence, this new thread for the USDJPY. Previous thread summary ----------------------------------- Calendar days: 96 Net profit: (USDJPY only) +1073 pips (including the currency hedge adjustments in support of Nikkei long positions - +1132% Net) Max risk; 0.71% of capital; Max draw-down: -0.43% Number of trades: 52 (including hedge adjustments) Average R/R: 1:10.25 (Exclusive of hedge adjustments) ----------------------------------- Here is the Daily; Currently: FLAT -> Long Bias.
by Nemo_Confidat
4
Why USD/JPY bulls should be cautious at these highsUSD/JPY has continued to defy gravity despite the growing threat of verbal (or actual) yen intervention by the MOF/BOJ. Yet the higher and faster it rises, so does the threat of intervention. You can see what impact it had on USD/JPY from the large bearish candle that formed on 23 October 2022, where the initial break above 150 was then met with a swift move lower and subsequent -16.3% decline over the next 2.5 months. However, what has caught our eye today is that recent cycle highs have stalled around the 10 October high, the day a softer-than-expected US inflation report saw the US dollar plunge. There is also a volume node from the choppy price action in October at 147.1, and such HVNs can act as both a magnet to attract prices and also become support/resistance. And given USD/JPY’s recent pattern of breaking key levels and cycle highs before reversing, we’re a little sceptical of bullish breakouts – especially with the growing threat of verbal/actual intervention. Furthermore, the US02Y-JP02Y spread has stalled just beneath its March high, so perhaps USD/JPY is at least due a pullback before it tries to break higher. Either way, we’d prefer to buy dips over breakouts. And as for any potential pullback, we’d prefer to wait for a breakout to become a ‘fakeout’ (where prices move back below the initial breakout level) before shorting against the trend.
by CityIndex
USDJPY Analysis 27Aug2023I analyze USDJPY using the D1 time frame so that we can know in general terms the trends that are occurring and the possibilities that could occur in the future. If you look at the series of waves that have occurred, currently there is a correction in wave B with the price forming waves a-b-c-d-e and heading to the QM area. by adding the RSI indicator we can see that the price has entered the saturation area and there is a divergence on the RSI. one of the signs that in the future there will be a reversal.
by Hokusai_FX
USDJPY BIG SHORT!!Hey Traders, We back for new week with the new analysis of USDJPY Price having sharp bearish move in daily time-frame, As you see in 4-hour time frame we closed bellow 4h level so we broke 4h level to down, so what we expect, is bearish move in multi-time-frame, By the time we are analyzing and writing price having a sharp bearish move, we expect another spike move like the previous one!! For more confirmation we can have a second entry after breaking 15-minute level just bellow the price, As always any question comment us bellow, @FxShzd team
Short
by FxShzd
USDJPYI normally don't trade UJ however for the benefit of those who do, thanks to a friend's request to take a look and share my thoughts, here is what I would normally look for, a break above the 139.134 zone and a retest of same area, will set the pair up for a nice long position. A break below the 137.296 area and its retest, will set the pair up for a short. For now, fingers crossed. I may not give updates on this pair as it is not on my favored trading list ;-) Disclaimer: All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
by Mbjoey
USDJPY 23June2023if you look at the elliot notation and fibo extension placement, then wave 3 is right at 1.618, which means wave 3 is already 1.6x longer than wave 1. I want to predict where the USDJPY price moves using the fibo extension, and it could be that the price goes to the fibo extension of 1.618 as well. if you look at the trendline, there is a possibility that the price will respond positively to the trendline, which also meets the fibo extension area. I think this notation is quite correct, because wave 3 is not the shortest wave. as evidenced by the price at 1,618, and wave 5 could be a bullish continuation, this type of bullish can run for quite a long time. if you want to go short, it's better to wait for a fairly positive bearish confirmation.
by Hokusai_FX