6J1! trade ideas
Japanese Yen: Bullish Patterns I have been interested in going long the Japanese Yen futures contract since the completion of the large Bullish Cypher pattern (I first saw this idea by @TradingJazz on USDJPY, his original idea is linked below).
I got picked up on a long at .8811 last night but took my small profit when it seemed it was heading back down after making a lower high. I am now looking to get back involved, and have identified two possible bullish patterns : Butterfly and Bat.
The PRZ of the two patterns will likely complete at the trendline since the Yen's December low which is another additional confluence in addition to these two patterns and of course the very large Cypher. As this is a large PRZ I will be watching this zone closely prior to entering in hopes of entering entering as low as possible with the least amount of risk I can to try and enter the possible large move.
If you have any comments or feedback on this idea, or your own view of the Yen, please feel free to share it!
Key SupportWith a lot of the Yen pairs looking over extended here its worth noting the Japanese futures is approaching a key support area for a potential bounce
More downside for YEN?Hey guys, Ive been tracking yen futures and posting updates for forex fb group. This is good to look at for JPY pairs. Looking for more downside on YEN, so upside for xxx/JPY pairs
J6 06 April 2017There are several divergences on volume on way up. There is also increasing volume on down swing. This is bearish change behaviour. I expect move down on Yen future. It means on forex pair USDJPY.
Yen futures are offBreakout for the Yen. Looks like we'll strengthen at least to the 200dma at 0.9280. Stop below 0.8950.
J61!, potential support at necklineAfter peaking up in Jul,
yen wasnt able to break that triple resistance and fell back down
we shall see if price can find support
at the neckline of pseudo inverted H&S
Nikkei index & YEN index - Why i think DXY need rest ? (part 5)Take care and good luck.
Thank you for your support.
Japanese Futures Buy Setup Daily ChartBullish Crab + Candle Stick Reversal Pattern+ Regular Divergence + OverSold
Japanese Futures find a road blockJ61! looked bearish as bearish can be, though they had come out of a larger up trend, so I can only presume that they are correcting and looking for more buyers. "Bulls take the stairs, Bears use an elevator".
The fib says that the Yen has interest here at the 61.8
If you look left we've come down to an area of balance and based on the presumption that we are correcting the up trending channel there should be buyers here.
0.86 and 0.84 are other long areas of interest, so if we don't get a reversal here, look out below.
JPY futures analysisComing off a triple top bearish pattern, price is at the lowest level since July. If the current trend continues down I'm looking at the 38.2, 50, and 61.8 Fibonacci retracement levels to cover the position.
