Usdjp
UJ trading sideways on resistance Since the day that the feds raised the rates, it appears that UJ topped out at a resistance zone of 118.5 | It has gone back to a sideways lateral movement in similar fashion to pre-American interest rate hike, While UJ has maintained a bullish long stance over the last months, it appears that for now it will stay lateral and is prone to spiking up or dropping short on news.. s3.amazonaws.com
USDJPY daily
*WILL GO DOWN TILL THE area of 106.50 AS* The market over buy wait till break back down and go short then turn all way up
*WILL GO long TILL THE area of 116 if its break the level of 110
my usdjpy charting what am i looking at right now on uj feedback is highly appreciated this is my first eliot wave.
not sure about the pattern the 61.8 B point is a railroad tracks so im not sure if its valid.
UJ Range TradeChart should be pretty clear.
Taking a Long from support here if it breaks down I don't want to be involved with the threat of the BoJ intervention which would blow out every stop.
USDJPY bullish – 12-month rising trendline underpins for higherUSDJPY has been consolidating under the 125.86 multi-year high (June 5, 2015) for over 2 months. If the current rebound off the 120.42 low (July 8, 2015) breaks above 125.28 then 125.86 (as shown on the daily chart), that would confirm a higher base at 120.42, extending the current 12-month upswing towards 126.82 and then 127.50. The 123.79/123.01 support zone above the 12-month rising trendline should support consolidation. However, a downside move below 123.01 would caution for near-term topping and shift the focus lower towards 120.42 (near the 200 day moving average currently at 120.46).
USDJPY _ Good Harmonic Move The trend may reverse at this level due to :-
1- Completion of two ABCD pattern.
2-1.414 Fibs extension for AE Leg
3- 1.27 Fibs extension for FG Leg
4-1.27 Fibs extension for LG Leg.
5- 0.618 Fibs retracement for BA Leg.
6- 0.500 Fibs retracement for DA Leg.
7-4- Valid previous structure level.
USDJPY: KEY LEVEL AREAUSDJPY is very attractive in terms of graphics and technical. The cross is working on a fundamental area for the next swing. The tightness of the support (61.8) could trigger a bullish acceleration up to at least 121.50 area, then to have the possibility of a rupture of the maximum groped. On the other side, a close below the KEY LEVEL AREA could trigger a bearish ABCD. we'll see ......
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