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Yenpairs

AUS/JPY descent through diagonal support, going bearish?Hi. Plotted on the 1D chart is a diagonal support line. It has recently been broken. On it I've also pointed out the near crossing of the Ichimoku conversion line and base line. The MACD is also turning away from its signal line in a downward direction and if the trend continues is will also soon pass the top line of the Williams. In the 4h chart the MACD and WIlliams is not as indicative of a downturn but instead the Ichimoku shows a recent crossing into a red cloud which is indicative. Thank you. Please, if you have any thoughts or comments do leave them below and I would gladly discuss or adjust my interpretations and methods with you. This does not constitute financial advice. Any projected prices, even if explicitly stated, are made with intent to discuss the symbol and potential interpretations. Any trades shown or mentioned are examples and neither recommendations or mandates.
Short
by Kabeldon
USDJPY - Trade Idea!USDJPY - It had an interesting move towards the upside....! What a week right! Crazy in the indices and equity market. Little reminder being a trader it isn't a get rich quick scheme....! Technical aspects: Pattern: Bullish Flag (At key area on Higher time aspect) Support: 104.75, 104.51 , 104.15 Resistance: 104.910, 105.10, 105.20, 105.40 You could trade the pull back towards support areas (50-200EMA) Nice target areas! OR wait for the pull back go into long side towards Fib Retracement area, giving a great risk reward. Swing or Scalp - your decision. (Use your own trade plan for further confluence) Things to keep in mind: - End of Months flow - Rebalancing - Weekly Closes further confirmation The Yen isn't a currency pair I trade often, but I see great potential either direction you take towards this trade. Key tip: You don't need to always need to be part of the trade or even the market if it doesn't make sense or you aren't feeling confident. That doesn't mean you sit back, relax and binge watch Netflix - There's a lot you can do out there sometimes analysing the market - Watching the market behaviour, reading and researching various aspects of the market is game changer. Discipline is key to become a success trader. Have a great weekend. All the best, Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
USDJPY LONG to 104.500After an initially bullish surge on the daily I can see that price retested and rejected the 103.00 - 104.00 region. On the 1 hour timeframe price also created what seems to be an inverse head & shoulders pattern, with price then breaking above minor resistance at 103.655. After a rejection of resistance at 103.860 price seems to be retesting the previously broken resistance at 103.655. I will create a buy limit order on market open to go long with targets at major resistance 104.500.
Long
by Too_Ray1
3