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USD/JPY, Breakout of Key Level should move the price DownWe think, that there will be a bearish continuation, because:
- price is in a downtrend
- price broke the key level
- there was a fake breakout of this mirror level
- there were multiple rejections from the level
- it seems not realistic for the price to break above
USDJPY short trade opportunity... Analysis on screenI have noticed a Fake-out of the down trend line. This gives us an opportunity to go in and ride the wave down. I got in around 107.700 my Stop Loss is around 108.300 and so you can see on screen my Target is around 105.300.
Take your time, be patient and stay alert for the break of the Neckline.
USD/JPY - Ascending Triangle after Channel UpOn the 4h chart, we can see that it was following my Channel Up pattern quite nicely. Updating now on my previous successful analysis, it started to build an Ascending Triangle which indicates another bull run, especially now with the US-news we might get some more information on soon. I suggest going long. But as always check for price action first and proper risk management. We might have to watch out on the Final GDP tomorrow to get a clearer view.
I'm most likely going long on this one! We might see a nice trade. Wish you all my luck traders!
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USDJPY Selli Hi Traders,
Dollar-Yen is on a strong resistance and it has bounced off the resistance, its good indicator that the market is going to sell from the current level, you preferably you may wait to retest again the respected level of structure and watch a price action there if the market again respects that level its great chance to shorten this pair next week:
Here is my setup:
USDJPY Sell at 109.65
Stop Level at 110.15
Target Level at 108.50
Good Luck guys ;)