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Usdjpyanalysis

USDJPY → Drop to 144.000!? Or Fly back to 152.000? Let's Answer.USDJPY fell from the double top as predicted in last week's analysis, hitting my take profits all the way down to 147.120. Will there be more downside or are we ripe for a rip back to 152.000? How do we trade this? 🤔 This analysis shows us three clean support areas: 146.000 (Bull Channel Support), 145.000 (Previous High), and 144.000 (200EMA). It's reasonable to zoom into small timeframes and look for short scalp setups down to those levels. Since the macro trend is bullish, I would be careful to hold any shorts now that the gap from 152.000 has closed the majority of the way. The RSI is still below the moving average and has *some* room to fall, supporting the short-term bear bias. Long-term, look to get long! We'll need a strong show of support with a bull signal bar and confirmation candle closing on or near its high and for the RSI to head upward breaking above the Moving Average. 💡 Trade Ideas 💡 Short Entry: 146.850 🟥 Stop Loss: 150.000 ✅ Take Profit: 143.700 ⚖️ Risk/Reward Ratio: 1:1 Long Entry: 145.500 🟥 Stop Loss: 143.200 ✅ Take Profit: 150.100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Bull Channel, Bias to Long. 2. Double Top Reversal Signal. Still Gaps to Fill. 3. Wait for Support at Channel Support, Previous High, or 200EMA. 4. Previous Channel High of 145.000 Final Target. 5. RSI at 35.00, below Moving Average. Supports Short-term Short, Long-Term Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
Tipping Point: Are We Poised for a Breakthrough or Breakdown?This pair is at a crucial point. What happens here will set its course for the next few months or even longer. Last week, it went above 150, but then there was a big drop. It seems the Bank of Japan (BOJ) stepped in, just like they did last year. When they did that last year, the price dropped over 2,000 pips in the following months. Will the same thing happen again? The 152 mark is a significant resistance level. If the we manages to break and get a weekly or monthly close above this level, it could pave the way for a rally towards the Monthly SUPPLY/SELL zone at 157. Given the circumstances, such as ten consecutive weeks of the market reaching new highs and recent BOJ interventions, I don't see this happening for now anyhows. I believe that buying this pair at current levels is risky. Though I do anticipate another attempt to breach the 150 mark, perhaps even surpassing last week's high, before an imminent sell-off. I'll be using the TRFX king indicator to spot sell signals on the 4-hour to daily charts, especially as the market nears or exceeds 150. My stop-loss will be set slightly above 152. If this rally does not occur I will wait for the break lower and then enter on the first sell signal on the first pull back. First target that should be easily hit is 145 ,this should act as some sort of support and could be an area for buyers to regroup and try to push for a move to break 152 (I don't see this happening though this is trading anything can happen) If the pair dives below 145, it could signify an even deeper correction, potentially below 140. Further sell-offs, potentially triggered by the BOJ altering their negative rate policy, could lead to rapid unwinding of carry trade positions. To sum it up, I believe entering buying positions at current levels is very risky and if you are looking to buy I would wait for pull backs towards 145. In contrast, a sell position seems to offer a more attractive risk-reward proposition and has the potential to result in a substantial trade.
Short
by TheFxAce
43
UsdJpy- Is this correction over?Recently, I mentioned that USD/JPY might decline from above the 150 mark to test the 147 support or even the crucial 145 level. However, let's not deceive ourselves— the trend for USD/JPY remains extremely bullish. Even if there's a correction of around 500 pips, it's merely a temporary setback, and, from a fundamental standpoint, nothing is changed to indicate a reversal. Technically, as illustrated in the chart, the recent decline is confined within a falling wedge, a pattern that typically signals a resumption of an upward trend. As previously discussed, the 145 zone serves as a robust floor for the pair. In the event of a drop to that level, traders might consider buying with a risk-reward ratio of at least 1:5. Alternatively, a daily close above 147.50-147.70 would indicate that the recent low of 146.20 is the bottom, and the pair could reverse direction without testing the significant support level. In conclusion, from the perspective of a swing trader, the focus should be on identifying buying opportunities in the market.
Long
by Mihai_Iacob
8
USDJPY - H4USDJPY W1 - The price has reached the trend line level, which could potentially result in a corrective movement. D1 - The 3rd wave is being realized, the price is near a strong level, which can lead to a correction. If you opened positions from a previous idea, you can securely transfer yourself to the break-even point, and then enter again after the correction. H4 - A triangular formation has been formed, which can lead to further continuation of the movement down the 3rd wave on D1. If the price breaks upward, it may begin a correction. What can you expect? For purchases with low risk per transaction: You can consider entering from the level of 147.464 with further movement to the target of 148.674. Cancel the idea so as not to take increased risk on the idea level - 146.555 For sales during a trend movement: You can consider entering from the level of 146.509 with further movement to the target of 145.013. Cancel the idea so as not to take increased risk on the idea level - 147.480 Long Target 147.701 - 148.209 - 148.674 - 149.424 Short Target 146.008 - 145.484 - 145.013 - 144.254
by Trade_Hive_Signals
USDJPY I Fed expectations soft thus more potential downsideWelcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
USDJPY Longs from 145.000 up to 148.300This week, the current position of USDJPY appears favorable, positioned near two promising Points of Interest (POIs). We are inclined towards buying opportunities as the price has recently responded to a supply zone, and we anticipate a slowdown and accumulation. Upon the completion of Wyckoff accumulation within our designated zone, we will seek buy positions for a short-term trade, aiming to reach the nearest significant supply. This counter-trend trade will serve as a retracement, acknowledging the temporary bearish trend. Confluences for USDJPY Longs are as follows: - To sustain its bearish trend, the price must respond to a demand level, prompting a retracement. - The price is nearing a crucial demand level on the 13-hour chart that has broken the structure to the upside. - There are remaining equal highs and imbalances above, which needs to get mitigated. The Dollar Index (DXY) is poised for an upward retracement, aligning with this bias. - The overall market trend on higher time frames, such as the monthly chart, remains generally bullish. - Price has taken some significant liquidity like asian lows so price might be due for a correction. P.S. Upon the price reaching our 4-hour supply zone, we will patiently await a form of redistribution to align ourselves with the bearish trend. Currently, our focus is on the anticipation of a slowdown and pullback, which we expect to occur in response to the 13-hour demand.
Long
by Hassan_fx
1
USDJPY I Wait for pullback to structure high Welcome back! Let me know your thoughts in the comments! ** USDJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
USDJPY Analysis. SHORT SWING SIGNAL!!!Hello Everyone i want share my idea about USDJPY. Japan currency is dead, its coming downside clear and beautiful but in this week we had some rejection from buyers and this rejection was strong. In my opinion dollar will start strong bearish movement for that i will try to catch movement, at the chart we have some good rejection from sellers which broke range and gave us new high after strong downside movement. i think this fall will continue to daily support which is at 144.9. Open short position - 149.6 Stop loss - 151.1 Take Profit - N/A ALWAYS MAKE YOUR OWN RESEARCH!!!
Short
by elmakacho
2