USDJPY Trade For Short USDJPY Trading at resistance point for Descending Channel Pattern and breakout on downside from long up trend. USDJPY Trade For Short.
Usdjpytrend
USDJPY → Falling to 1.46? Or Rocket to 1.52? Lets Answer That.USDJPY fell below the 30EMA to my previously predicted area of 147.100 then immediately bounced back to 150.000 only to stall and leave us wondering what the next move will be.
How do we trade this?
We're in a bull channel which should put us in a bias to long. But we have a double top reversal signal at a key level of resistance (the previous Weekly high of 152.000 staring us in the face. We need to see what happens here at the 30EMA. If we get a strong bear bar closing on or near its low, shorting to the bull channel bottom around 146.300 or even the previous high of 145.000 is reasonable. The protective stop should be just above the 30EMA.
You can also wait for a long at the bull channel support or previous high support, looking for a bull channel signal bar and confirmation closing on or near its high. Protective stop just below those levels with a take profit at the 30EMA and then the previous high of 152.000.
Key Takeaways
1. Bull Channel, Bias to Long.
2. Double Top Reversal Signal. Close the Gap to Bull Channel Support.
3. Fell below 30EMA, Gap to Bull Channel Support
4. Previous Channel High of 145.000 Final Target.
5. Wait for Bear Signal Bar for Confirmation to Short.
6. RSI at 47.00, below Moving Average. Supports Short.
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USDJPY Analysis 23July2023USDJPY's journey is in accordance with last week's analysis where the price was stuck in the support area and now it is corrected and enters the fibo 0.382 area. If you look at the close of this week and a fairly strong bullish candle is formed, and the price pattern is lined up on a curved line, it is likely that strong bullish will still dominate after this.
USDJPY BuyJapanese Yen showed its strength last week but on Friday it was weak. I think next whole week Japanese Yen will be weak and it is good to buy all Japanese pairs.
USDJPY 29June2023if you look at the price movement in the past week it looks very slow but the price is still moving bullish, this looks like price compression. usually when something like this happens, in the near future there will be a fairly high price jump.
the initial target is still the same, namely in the fibo extension area of 1,618 and it could be that the price jumped high towards the SnD area above the fibo extension.
USDJPY 11June2023when wave 5 looks over, now enter the correction period, I have not added the new elliot notation, I have not seen the pattern that will occur even though the price movement looks positive for a correction. short term the price will drop to the SnD area with invalid restrictions, when the price moves higher than the invalid area it could be bullish again or there may be a fake break out.
USDJPY Next Possible Move#USDJPY ( U.S Dollar /Japanese Yen )
- IMPULSE CORRECTION IMPULSE in Long Time Frame #LTF, Completed Corrective Waves " ABC "
- SYMMETRICAL TRIANGLLE in Short Time Frame #STF and Breakout of the Lower Trend Line
- Strong Selling Divergence
- Breakout of the Demand Zone
USDJPY Re-Testing EMA-21The major is extending downside for the third consecutive session, outlook is bearish.
Price action has slipped below 5-DMA and is on track to test 21-EMA support at 133.21.
USDJPY | Get ready to buy | Buy OpportunityIf you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of USDJPY, I think we are going to see an upward movement. Now price is staying near a support as well as a demand area, which would help the price to get pass the above resistance areas move towards 113.890; which is a supply area. From there we could expect a sell. If you are going to go long now, make sure to place the stop below the previous support area.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
USD/JPY May Continue DeclineUSD/JPY has made a high of 111.66 and took a U-turn. Its impulsive wave breaks at support trendline breakout. It can keep falling from the dynamic resistance trendline ( DRT ). We may see 109.54 - 109.15 - 107.48 soon.
Don't sell after a breakout of DRT or 110.7 level. And do not forget to watch significant releases or events mentioned on the above chart that may affect the movement of USD/JPY.
Techanical Analysis of USD/JPYAccording to the 4H chart of USD/JPY, its uptrend can extend and touch the following target prices: 111.11 - 111.50
Invalidation: prices below ii or 50 MA.
What I'd love to see on USDJPY!Price comes to my previous respected resistance trendline. Lets see. Probabilities
USDJPY Price is Trapped at ResistanceAccording to this chart, USDJPY will take a U-Turn from the resistance line for the following targets: 104.14 - 103.98 - 103.86.
But if it breaks the resistance and stays above it, USDJPY may start moving upward for the following levels: 104.70 - 104.56.
USD/JPY's futhere movesIn the previous week USD/JPY gained +1.261 points.
From the last candle there will be an uptrend to the parallel channel and then price will start to fall again.
Here, the hurdle is 106.06 level. If candles consecutively crosses the dynamic resistance(DR) there will be an uptrend and price will increase to the 106.76 or above but if candles continuously move downwards under the DR or parallel channel, In this situation trend will be continue to move in the same direction and it will decrease to the control price or more. If trend crosses the hurdle there will be the first target of 105.86 level and second target will be 105.60 level.
If you pay attention to the whole trend of this chart you will get to know that there is the extreme fall in trend from the point which shown by the blue arrow which indicates the overbought and volume spike. and you can see, every time when the tail crosses dynamic resistance, trend decreases. and every time when the candle touches a support trendline, trend moves upside.
By crossing the support trendline, It makes a major failure and it continuously decreases, and makes an excess, after that it again started to move upwards.
USD/JPY Intraday: Hurdle at 105.20Long positions above control price with targets at 106.60-107.20-107.75 in extension.
Hurdle: 105.20
Don't buy below the hurdle line.
USDJPY Trade In Falling WedgeUSDJPY is trading in a falling wedge pattern. As price is trading in a narrow range soon, we will see price breakout from a falling wedge in USDJPY. USDJPY is trading below its support 1, so we might see a downside in USDJPY and the first target for downside will be the support line of the falling wedge and the second target will be support 2. If the price breaks out on the upside, we have resistance 1 at the target price for USDJPY.
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USDJPY Bearish Pattern.USDJPY is trading in the Descending Triangle pattern. If it breaks out from the descending triangle pattern, we might see further downside on USDJPY towards support line 1. One can initiate the trade on USDJPY on the breakout of the Descending Triangle pattern only.
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Crucial point for USDJPYHello.
Here is our analysis on USDJPY.
The resistance and support are strong once
as they are from D1.
Currently the pair is consolidating in the channel
so its advisable to wait for the breakout.
Stay with us for the confirm position.
thanks
