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📈 USD/JPY - JULY 05 - Bullish Bias, but Risky CoT PositioningDaily update for USD/JPY for July 05. Here is what you need to know to trade today. FUNDAMENTALS: The US NFP release led to strong selling pressure in the USDJPY pair, which was partly the result of profit-taking in the USD after the pair reached near multi-year highs. The JPY is the weakest currency for the last 2 weeks, but the absence of major market reports this week (and the US holiday today) could mean that the pair will remain within familiar ranges. There aren't many reasons to believe that US yields won't rise again after a strong NFP number, despite falling unemployment rates. The USDJPY pair should overall remain well bid during the day/week. Latest Headlines: JPY News: -USD/JPY struggles for direction, holds steady around 111.00 mark -USD/JPY now seen within 110.60-111.65 – UOB -BOJ raises economic assessment for two of Japan's nine regions -BOJ maintains assessment for 5 of 9 Japanese regions in latest economic report -USD/JPY Price Analysis: Struggles to defend 111.00 inside fortnight-old rising channel -Japan Jibun Bank Services PMI up to 48 in June from previous 46.5 USD News: -US Dollar Index remains on the defensive near 92.20 -US Dollar Index Price Analysis: DXY probes rising wedge breakdown above 92.00 -US inflation expectations fade recovery moves -Fed and ECB events to keep an eye on this week Upcoming Market Reports: Here are the most important market reports for USD/JPY to follow in the coming days (all times are UTC timezone): Monday at 12:00: USD Bank Holiday Tuesday at 14:00: USD ISM Services PMI (Expected: 63.9 , Previous: 64.0 ) Wednesday at 14:00: USD JOLTS Job Openings (Expected: 9.34M , Previous: 9.29M ) Wednesday at 18:00: USD FOMC Meeting Minutes (Expected: , Previous: ) Thursday at 12:30: USD Unemployment Claims (Expected: 375K , Previous: 364K ) Thursday at 15:00: USD Crude Oil Inventories (Expected: , Previous: -6.7M ) INTERMARKET: Nikkei 225 and yield differentials point at some weakness in the pair from an intermarket standpoint. SENTIMENT: CoT: The latest CoT report showed that leveraged money increased their bearish bets on JPY, while simultaneously reducing their bullish bets, to reach an almost 3-year extreme. The last time the bearish positioning was this high (March 2020) marked the start of a significantly strong bear trend in the USDJPY pair. Note that the net short positioning in USD decreased slightly from extreme levels after the Fed's hawkish shift, signaling the risk of a short-squeeze. Positioning is bearish for USDJPY. Currency Strength for the Last 2 Weeks TECHNICALS Price-Action: The pair is trading in an uptrend on the 1-hour chart and touched a rising trendline support, where buyers pushed the price higher this morning. The pair broke below the 61.8% Fib but recovered some ground recently, which could signal a dip into liquidity by large market participants. However, bear in mind that US markets are on holiday today, which means lower liquidity overall. Levels to follow (Liquidity): Major resistance: 111.65 Minor resistance: 111.16 Minor support: 110.80 Major support: 110.42 == SUMMARY == I am interested in trading USDJPY from the buy side, but the extreme positioning in the futures markets and the possibility of USD short squeezes pose a risk for bulls in the coming period. Please hit the 'LIKE' button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks!
Long
by MujkanovicFX
3
BTC/USD Bullish CypherBitcoin is right now forming a bullish cypher pattern which is a bullish harmonic pattern. If it plays out a perfect entry would be around the $34600 area. Target would be 41-42k. Here are the following reasons why this would be a great entry: Hidden Bullish divergence on the hourly. Bullish Cypher with almost perfect retraces. Perfect retest of the falling wedge that has formed on the daily candle BTC is currently in phase D of the wyckoff accumulation pattern which according to the pattern should be a big move towards the 41-42k resistance area. I think these are pretty valid reasons to enter this long position and remember, only enter if price reaches point D which is around $34600 - $34500! Follow for more free trade setups. Good Luck traders!
COINBASE:BTCUSDLong
by SpaceBlobb
🟢 $SNDL Target 1.95 for 65.25% ADDED to $SNDL NEW Target 1.95 for 65.25% Or double position again at .41 This one has been a drain but it will have it's day... I doubled my position here (a little bit more than doubled...) — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:SNDLLong
by SPYder_QQQueen_Trading
7
$KIRK Target 30.25 for 28.29%$KIRK Target 30.25 for 28.29% Or double position at 16.91 Lining up nicely here… — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:KIRKLong
by SPYder_QQQueen_Trading
3
$LQDT Target 27.99 for 22.01%$LQDT Target 27.99 for 22.01% Or double position at 17.89 Definitely seeing a few of the timeframes lining up for a possible bull move here… — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:LQDTLong
by SPYder_QQQueen_Trading
$WKHS Target 24.89 for 52.14%🟢 $WKHS Target 24.89 for 52.14% Or double position at 7.83 Some nice RSI support here… let’s go… — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:WKHSLong
by SPYder_QQQueen_Trading
🟢 $KNDI Target 10.22 for 38.11%🟢 $KNDI Target 10.22 for 38.11% Or double position at 4.58 This one too - finding some RSI support here… I didn't add here... just charting — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:KNDILong
by SPYder_QQQueen_Trading
🟢 $NIO Target 53.05 for 32.39%$NIO Target 53.05 for 32.39% Or double position at 27.09 NIO RSI support bounce to target? Maybe... — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NYSE:NIOLong
by SPYder_QQQueen_Trading
🟢 $WKHS Target 24.89 for 52.14%🟢 $WKHS Target 24.89 for 52.14% Or double position at 7.83 Target is still the same... just cheering her on... — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:WKHSLong
by SPYder_QQQueen_Trading
$MOSY Target 9.12 for 26.14%$MOSY Target 9.12 for 26.14% Or double position at 5.34 Well let's try this again... Target is the same... pretty much right back at entry price 🤣 — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
MLong
by SPYder_QQQueen_Trading
$WISH Target 17.62 for 40.40% (No Position ☹️)$WISH Target 17.62 for 40.40% Or double position at 7.48 WELL... THE SAD NEWS is that my order did NOT fill so I am not in this one... but this is what my plan WAS. Grrrr... haha... GL y'all and I'll jump in at the next opportunity... — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
W
by SPYder_QQQueen_Trading
1
$SHIP Target 1.72 for 38.71%$SHIP Target 1.72 for 38.71% Or double position at 0.76 So I think TV made it to where you can't see the profit potential percentage easily so I'm just typing it out. Too bad... that was a nice feature. — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:SHIPLong
by SPYder_QQQueen_Trading
2
$VXRT Target 13.62 for 48.04%$VXRT Target 13.62 for 48.04% Or double position at 4.78 This one is finding support here too... I like trading this one too... haha. One of my favorite Biotech stocks for sure. — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:VXRTLong
by SPYder_QQQueen_Trading
6
$CRON Target 10.78 for 30.35%$CRON Target 10.78 for 30.35% Or double position at 5.80 Support Bounce here too— I raised my target a little for CRONos... Let's go, canna-bulls 🤣 I'll let myself out... — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:CRONLong
by SPYder_QQQueen_Trading
2
$CAPR Target 7.55 for 42.99%$CAPR Target 7.55 for 42.99% Or double position at 3.01 RSI Support Bounce — Let’s go all the way… I have not added since last chart and target is the same. — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:CAPRLong
by SPYder_QQQueen_Trading
$SYRS Target 10.92 for 66.21%$SYRS Target 10.92 for 66.21% Or double position at 2.88 Nothing has changed here... I'm just charting and organizing my portfolio ATM. — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
NASDAQ:SYRSLong
by SPYder_QQQueen_Trading
9
$FUV Target 22.12 for 48.46%$FUV Target 22.12 for 48.46% Or double position at 7.68 Nothing has changed, target is the same... Let's go.... — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. I start every position with 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
FLong
by SPYder_QQQueen_Trading
4