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Usd-jpy-buy

USD/JPY SetupHi Traders, Looking at USD/JPY H4 Timeframe, Price has been respecting the descending triangle since the begging of may, It will be very interesting to see if price will break out of the channel, If we do get a break out we can prepare for potential long positions, we also have a potential double bottom forming, This will only be valid if price breaks and closes above the neckline, then we can see if price can break above 127.50 and then 128.00 which is the main area I would like to see broken. If price breaks above I will be waiting for a pullback to form. If price creates the pullback I will wait for price to start trending higher and also be trading above 128.0 before looking for buys, If price fails to break above I will have to for price to create a clear direction. Happy trading out there
Long
by Tradebudz
1
USD/JPY BuyDaily: Bullish Currently retracing. Pattern: Sat within an ascending channel. Potential for order once price breaks out of channel, re-tests. 4H: Pulled back and made a series of LH's and Hl's, formed a double bottom and multiple wick rejections at structure. Pushed above 4H BoS now pulling back but yet to form a CHoC to signify continued move to the upside. 1H, price has made new HH's and HL's. Once price breaks above the 4H BoS this will signify the end of the pull-back. Correlation points: USD will need to remain Bullish with other pairs and Yen remaining to fall. If price breaks above 4H BoS for continuation, then order will be submitted on the key price 123.000. Only when price breaks below 4H Swing Low to break structure will sells be activated. Action: buy will be initiated once price breaks above 4H BoS, ideally a break out and pull back on the new HL for order to be placed.
Long
by Eddie3026
USDJPY: BUYBased on higher time frames of drawing a standard deviation channel at 144 weeks as well as a fibonacci off the last 5 months of USDJPY, we can see a potential opportunity for bulls to enter this pair next week to take profit sooner rather than wait on a swing trade. If you take this idea and enter at the 38.2 level of the fib drawn here on the H4 time frame, expect to take profit at 161.8 level, however, pay attention to the 6.18 level where price could potentially reverse. So make sure your risk management is at the forefront when trading this pair this week.
Long
by cupofconfidence