Get started

Usdjpy4hrs

USDJPY 240 Pips drop expected will it reach 103.00 level ?USDPY ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣Clear Downtrend since July-2020 2️⃣ 104.00 Acted as dynamic support and resistance 3️⃣ Risk off mode and Rising of virus infections, US 2020 election 4️⃣ 105.00 Key psychological resistance 5️⃣ Price Movement within the broader Downtrend channel 6️⃣Counter trend line will act as resistance 7️⃣ Technical support - Bear 8️⃣ Short term bullish movement towards 105.500 9️⃣ October high Immediate resistance 🔟 DXY-awaiting US election results - Currently neutral for USDPY #️⃣ Overall bearish trend —————-❇️——————- 📉 Technical bias-H4-Bearish Below 200 Exponential moving average 200EMA acting as immediate support - Bearish trend Possible entry point-105.500 Relative strength index - Around 60 well above the neutral area MACD- Is still above the line and about to cross the line and the histogram is fading ,Oscillators are still upward Stochastic -at 75 Which is over bought territory and bearish divergence has formed in H4 Ichimoku cloud -cloud is red-Cloud Support-Bear Bollinger band- Price is around higher band-Middle band will acting as dynamic support/resistance —————-✳️——————- Key reversal area's 104.00 Key psychological level 106.150 October month high 105.500 Dynamic support and resistance 105 Key psychological level-Major key reversal area 103.00 Lower trend line reversal area 105.500 Possible entry- Bearish 105.500 Break and retest around this area-Alternative entry-Bullish —————-✳️——————- Bearish entry #USDJPY Entry price - 105.500 Take profit 01 - 104.800 (70 pips) Take profit 02 - 104.100 (140 pips) Take profit 03 - 103.100 (240 pips) 🚫 Stop lose 105.940 (45 pips) Alternative bearish entry-105.700 ( Break and retest ) ⬇️ 2.14% Growth expected ⤴️ Account growth 0.56 : 2.14 ✅ Risk reward ratio 1 : 3.8 —————-⚜️——————- Push the like button , And cheer up if you found useful
Short
by forexorbit
USDJPY Bounced from the trend line support 107.00 level eyedUSDJPY Was bounced after touching the trend line which is acting as both support and resistance level. The main support level comes around 105.100 level which is a completion of ii Elliot wave and the starting point of iii Elliot wave. In between this iii Elliot wave we can expect some minor Elliot impulse waves from 1-5.The price is currently trading parallel to the consolidation phase which i have mentioned earlier. We must aware about the series of Higher low lower low and lower high which is a sign of minor bearish trend. Bull has to go above the 105.600 level so that it can reach up to 107.000 Level 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
Long
by forexorbit
2
USDPY Bigger falling wedge patternUSDJPY Because of the negative risk sentiment YEN crosses are catching major bid against major pairs. As the United states of America president Mr. Donald Trump has tested positive of COVID-19 which is triggered the panic across the board and investors flight in to the safety. After the Mr. President tweet USDJPY felled almost 60 pips and the price is just under .50 Fibonacci level The bigger falling wedge pattern was underway as we can expect to finish at 104.00 key psychological level which is our primary downside target. Which is a expected level for end of Elliot wave E. Currently the minor Elliot correction ABC waves are completed and 1-5 downside waves will be formed until 104.00 level The price is just under 200 Exponential moving average in 4 Hour timeframe. We can sell this pair after retest towards Point of control-Volume profile coordinates with .50 Fibonacci will give us a good risk reward ratio Below which i have attached a different view in 1,4,Day,weekly timeframes. Out of which except in weekly timeframe in 1,4,daily timeframes the price actions favors the bearish trend .In weekly timeframe USDJPY finds some good support near 104.570 Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Short
by forexorbit
8