USDJPYLooking at the 4H time frame, we see a triangle formation.
There is a sellers exhaustion also at the 4H
The main trend analysis looks to be on a slight up trend.
Uj
UJ collapse against Gann time and price squareConfluence of a square in time and price of UJ is a pivot zone, a pivot in time and price kills the trend in force, expect a collapse in price
strugle of MPP 110.769 AgainAlthough we can see a return to the horizon which attacked a few days ago overall, UJ is no exception.
Also, unlike the previous contact at 6/15, it is stopped cleanly.
On the other hand, when considering that the wall of the limit order is thin due to overshooting of double zero 110.000 over two times,
It seems to be becoming short-term advantage.
1) It was confirmed that MPP 110.769 functioned as resistance.
Aim for a short, try a double zero 110.000 penetration.
However, if it is determined that 110.000 penetration has failed, the position is handled.
2) price penetrated above MPP 110.769.
If MPP can be confirmed as a support line, consider a long targeting around 110.5 which is before the weekly trend line.
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
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USDJPY Fibonacci Support Resistance Zones: UJ as of Jun 17I found a way to make the zones go back to origin point.
So some of the recently created zones will only go back a few hours.
The longer (time period) that a zone is, the larger time frame that Fib covered
As well, I have left a couple of the recent Fib extensions used as examples.
My complete chart has so many lines one can hardly see the price.
So for actual trading, I use this simplified chart as the guide for support/resistance .
I will update as new zones are defined by upcoming Fibs.
USDJPY Long Scalp idea UJ buy?Waiting to see if London will bring it down a bit for me to jump on.
110 looks like strong support, so that is the first zone I will be watching.
USDJPY Fibonacci Support Resistance Zones: UJ as of June 10These zones are calculated using Fibonacci Ratios of past price moves.
The chart is stretched Vertically - Drag the Right side axis to change magnification.
There are zones above and below the current window, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up.
I will update as new zones are defined by upcoming Fibs.
USD/JPY Short Pip and DipExpect USD/JPY to reverse around 50% fib to the 38.2% fib area; pip and dip strategy takes advantage of movement expected on longer term bear run. Get the pips and close.
USDJPY Long - The 30/200 PinchEntry - 108.38
Take Profit - 109.28 - 90 pips
Stop Loss - 107.88 - 50 pips
Straight away, you'll notice this is not an ideal risk to reward ratio, but I've found the 30/200 pinch to be somewhat reliable in my back-testing. On the 4H chart, price has appeared to have made the turn for an extended reversal. The 200MA (blue line) has been breached and we're seeing lower lows. This tends to draw in counter-trend retail traders, which gives the bigger fish an opportunity to catch shorts. The long wick on the previous candle is an indication to me that more than a few traders jumped on that extension down and were caught off-guard. The price reacted strongly off of my S&R line (light blue), which is drawn on the monthly timeframe.
In my experience, when the trend appears to be reversing, and the 30EMA (green line) and 200MA close the gap and "pinch", price jumps against the recent PA. My TP is fairly conservative for the situation and is situated between the moving average lines. SL is below the previous low.
I'm not opening a large position, as I'm primarily a trend follower and this is relatively unorthodox for my main style. It's possible the break of the 200MA is too much and JPY pairs tend to pick a direction and march, but I'm willing to take a risk. I'll provide updates or comments if I note anything interesting as this continues.
Thank you for looking!
-Zedro
USD/JPY SHORT IDEA
This idea is for educational purposes only
USD/JPY 0.23% is in a bear market; the pair experienced retracement and rejection around the 38.2% fib level. Expect price to continue toward 109.000 area. The 50 MA (red) is also trending downward. Expectation is that price will pull back to the 8 EMA (black)
USDJPY completes 5 Elliot Waves. Its time for a correctionUJ just complete the 5th Elliot wave, now I see a little correction to continue to the upside until Daily trend line. At that point we will see how the price reacts.
40-60 pips on short to start the week and also to fill the GAP and finish pullback.
USDJPY. Triangle = Continuation downThis is one of the ways how the current correction within the wave X of WXY could unfold.
It is a contracting triangle. After completion we could see another wave down, which is Y.
I highlighted the target area with an orange box, this is where Y is equal to W.
It perfectly fits with the Fibonacci retracement area between 78.6% and 88.6%.
Waiting for a good long-term short entry for MONTHSAs UJ is testing the 111 resistance area. It seems like it can't break it. Overview of the monthly with the kumo twist shown. I'm waiting for it patiently how it reacts to the cloud and my predictions it'll spit it back down to the 100 support level. IF, IF it breaks that support level then the bears will just be in complete domination once its out of that cloud.
Lets have a good trading week traders and lets catch these pips and be another step closer to being a successful trader.
#BullishLifestyle
USDJPY - Weekly Chart AnalysisPrice Action: Bullish
Pattern: Asymmetrical triangle + break of all EMA’s
Long-Term Momentum: Bullish
Short-Term: Bearish
Bias: Long
Action: After price tests trend resistance it will most likely bounce. Hopefully it will find support where daily resistance is now. Enter a longer term position here.
Comments: Would like to see bullish momentum continue for next couple of days then correct. I think that this will be healthy for many U.S. pairs as they all have very similar price structures.
