Sideways consolidation 95% speculator short (source: freecotdata.com) Daily RSI 30
This pair was in a long running consolidation of wave B after a strong impulse up in wave A. The wave B could have been finished already and we are heading north now. The breakout above yellow resistance is needed. Target is between 111.20 (C=0.618 of A) and 112.93 (C=A)
Not financial advice. Carry trade unwind 98 first target October 2019
FOREXCOM:USDJPY FX_IDC:USDJPY TVC:DXY 1st quarter target 108 - 105 2nd quarter target 105 -107 3rd quarter target 107 - 108 4th quarter target 108 - 111 Alternate scenario with US recession Short till 100 and lower or until the market recovers...
Right now am looking for the trade shown, however if the price begins to flag up slowly I will potentially take a more aggressive 15M entry -- if this is the case I will update below
4H AO has not crossed yet so this is a shorter term trade...here we can see a three wave correction with divergence and a double top on the last wave. My first target is the previous low. I will update at breakeven and when close to the target.
Signal: Buy - 0.88585 Take Profit - 0.89265 Stop Loss - 0.87400
JPY/USD (J6 JPY Futures) - J6Z2017 December 2017 Contract Signal: Buy Limit 1 - 0.87400 Buy Limit 2 - 0.87000 Take Profit - 0.89000 Stop Loss - 0.85900
JPY/USD (JPY Futures) - J6Z2017 Signal: Buy - 0.88100 Take Profit - 0.89470 Stop Loss - 0.87600
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...
Over the weekend we gapped into the area of 110.5 where we have trendline resistance, previous structure and the .618 fib level. I got short at 110.4, which I closed out earlier. I am now short again at 109.8 with a stop at 109.99. Expecting further downside. Check out some of my finance articles including one I just wrote about a Forex hedge fund @ anyhows.com
USDJPY has hit the previous monthly uptrend mode, and is currently stuck inside this zone. It would be a colossal feat, for Yen bulls to drive the pair under this key level, so I will watch it with keen eyes during this week. I'll update the post with intraday and daily/weekly charts as needed. It would give us clues about the future of the S&P500 and Nikkei, if...