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Usdjpyweekly

How to trade Forex using a supply and demand strategyUSDJPY shows what price action areas we expect price to react from on USDJPY Forex Cross pair. USDJPY is dropping strongly reacting to previous weekly supply imbalances in a big picture downtrend. New supply levels have been created around 114, 112.69 and a brand new one around 111.60. This USDJPY cross pair analysis is done on the weekly timeframe for those interested in a Forex strategy to help them in their swing trading. These strong impulses become often times a new imbalance where we can plan our trades based on very specific rules. By reading a series of price action patterns you will be able to identify certain price areas that become supply and demand imbalances where you will be able to plan your trades. One of the most important characteristic for an impulse to become an imbalance is its strength as can be seen in the imbalances drawn on USDJPY Forex cross pair weekly timeframe. Price action together with a mechanical supply and demand strategy will help you locate areas of imbalance where new trades can be taken. USDJPY has fallen short of retracing to last supply imbalance around 112 but has continued to drop strongly creating another supply level around 111.60. There are many Forex trading strategies that work, you just have to master one of them by trading it over a long period of time until you are number one doing the same boring thing every day. If you start skimming around and jumping between different strategies you will be auto-sabotaging yourself.
Education
by AlfonsoMoreno
WEEK AHEAD 14-18 JAN FOR USDJPY LONG Hello Traders , We are expecting USDJPY to move up towards its 50SMA on weekly , since price is at major support and indecision towards downside is seen . Also whenever we see this type of condition in bollinger band when price is far out of band in higher time frames most of the times price tends to come back inside the band's trading range and many times towards 9 or 20 moving avergaes too , hence even though price is closed below major weekly trendline , we find more probability that price would move towards 110-111 area before resuming its downfall if occurs. These forecasts are based on interesting patterns found in Weekly charts , i will be updating such forecasts on different pairs after weekly candle close on sighting of opportunity , Please like share n follow me for updated trades during the week.
Long
by DayTrade-EA
USDJPY Reversal at .382 Fib LevelTechnical Analysis Last week we kissed the 0.382 fib level and had a strong wick indicating a loss in the bulls momentum. This could be a strong indicator of the start of a reversal for USDJPY. This week all eyes on USD with Trumps Speech Today with his Hawkish attitude toward the Iran situation causing great volatility in the Oil Markets. Consumer Price Index on Thursday 11th May & James Bullard's speech on Friday 11th May. Key Week for USD Pairs.
Short
by MoneyBodySoul
USD/JPY breaks two-week long channel downUSD/JPY breaks two-week long channel down For the first time in many weeks, reports about another ballistic missile launch made by North Korea did not led to appreciation of the Yen. The news from Asia most probably was beat by a series of positive news coming from the United States. From technical point of view, strengthening of the buck led to breakout through strong resistance formed by the upper boundary of a descending channel together with the 55- and 100-hour SMAs. Although certain signs point out on formation of a new ascending channel, this view might be premature, as further path to the north is obstructed by resistance zone surrounding the 38.2% Fibonacci retracement level at 111.65 as well the weekly PP at 111.78 that is backed up by the 200-hour SMA. In other words, today the pair is likely to plunge back to 111.20.
by UnknownUnicorn890690
USD/JPY moves to south as expected USD/JPY moves to south as expected As it was expected, the currency exchange managed to break below both the psychological 113.00 level as well as the weekly S1 located at 112.86. A release of better than expected American retail sales and inflation data did not ruin this achievement. In contrast, it simply accelerated a rebound from the bottom trend-line of the currently active descending channel. Generally, the exchange rate is expected to resume the movement upwards. However, there is a little chance that it will manage to climb above new combined resistance set up by the monthly PP and the falling 55- and 100-hour SMAs. To put it differently, the pair is expected to make another rebound and continue heading to the south. The main factor that might alter this assumption will be the upcoming US release of manufacturing data.
by UnknownUnicorn890690
USD/JPY trades in descending channelUSD/JPY trades in descending channel During previous trading session the currency exchange rate expectedly approached and made a rebound from the upper-boundary of the current descending channel. As a result, now the pair is expected to continue moving to the bottom. This direction is also supported by the fact that the 55- and 100-hour SMAs are located above the current market price. Nevertheless, deprecation of the Yen might be hampered if bears fail to push the pair through the monthly PP at 113.25. In addition to that, there is a need to take into account existence of a junior ascending channel that formed as a part of the larger pattern and might also obstruct the further plunge. Finally, some volatility in the markets might also be caused by a speech that will be delivered by Bank of Japan Governor Kuroda at the University of Zurich.
by UnknownUnicorn890690
USD/JPY falls as North Korean crisis escalatesMorning outlook - USD/JPY falls as North Korean crisis escalates In result of a new ballistic missile test conducted by North Korea, the American Dollar lost 0.57% against the Japanese Yen just in two hours. Accordingly, in the first half of Tuesday the buck is expected to try to recover some of the lost value. However, even if it succeeds to break through the upper boundary of a junior descending channel, the pair most likely will fail to climb above 109.28, as this resistance level is reliably protected by a combination of the weekly PP and the 55-, 100- and 200-hour SMAs. In addition, there is a need to take into account another fundamental event that will happen at 14:00 GMT, i.e. a release of data on the US CB Consumer Confidence.
by UnknownUnicorn890690
USDJPY Weekly TriangleHey guys, The chart says it all, more or less. I have a larger pitchfork on the monthly chart, price hit its median line @ 125.3xx and bounced off it. If we are destined to hit the lower paralel line we will see 90 - 100. Breakout to the upside could mean 130 - 140. I personally have bearish sentiment on the larger time frames and believe a move towards 90 - 100 is more probable. But first the weekly, as you see this is perfectly tradeable, draw your channels on the daily and long/short the rejections. The subtle striped blue lines represent the monthly medianline(upper line) and its parallel line(lower). Goodluck
by dinnersticks