Yenpairs
CHFJPY H4, inside of a range...Currently in a 4H range, price recently formed a double top at this resistance zone and it's possible that price can drop to this support zone to create a double bottom. If this happens and a reversal pattern forms (on a lower time frame), wait for the pattern to fully form and enter after the breakout. However, if price breaks through either zone, wait for a retest before entering a trade in the direction that price is going in.
AUDJPY - Which way? AUDJPY - We've had get bullish momentum for a while...!
Let's go through some important fundamentals announcements: JAPANESE PM ABE HAS RESIGNED DUE TO HEALTH REASONS.
Now, that drove increased yen and the indices, due to pressure occurring.
Technical aspects of AUDJPY:
We are in a wedge formation, looking at daily chart.
Long term channel bullish
Bears in control: If we exit out of this channel and wedge - wait for pull back to see if it isn't a fake break out and then take the trade going down to the next support areas.
Bulls in control: We exit the wedge formation towards the upside, again wait for the pull back to re-test the wedge then taking the trade towards the next resistance areas or targeting the channel area of resistance.
All the best,
Trade Journal.
(Remember just a trade idea, not a recommendation!)
CHF/JPY H1 and M15 Analysis (Technical)In this example, if we see a Higher High and Higher Low on the M15 we can expect the price to continue to the upside. If it shows a Lower High and Lower Low on M15, you can consider shorting a position and take profit on some of the support and resistance lines/zones I have drawn. As we can see, the price is currently in the major resistance zone. Do your own due diligence!
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GBPJPY-4 Hour Timeframe Trading IndicatorPeriod: 10/01/2007 to 02/07/2020
No. of Points: 14,021.
No. of Trades: 507.
% Profitable:63.12%%.
Profit Factor: 1.563
Points per trades: 27.66
No. of lots: 100 (50 lots is partially booked after 1.275 points which can be customized and remaining 50 lots is in trade until the trend is reversed).
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USDJPY LONG UPDATESMALL CHART EDIT \\ UJ finding strong support area of 106.5-106.8. We will be looking for a rejection off the 107.4-107.5 and find support at 107.0-107.1
Price is showing strong bullish engulfing momentum on the higher time frames after recovering from March's lows. We should expect strong fundamentals in the week to come, with no shock to the dollar as we remain flat on interest rates through the year. Markets have seemed to have digested the bias and the dollar wants to show its strength, with pride!