Usdjpybuy
UsdJpy- consolidating above resistanceOn Monday, UsdJpy has broken and closed the day above resistance, finishing the day at 110.
The pair is consolidating now.
We believe the break is genuine and we could see the pair testing the 112 important resistance soon.
Strategy:
Buy dips above 109.60
SL @ 109.20
Target 112.00
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Still going a bit sideways for the time being. As mentioned previously, keep in mind that key psychological levels such as 110.00 are very important in forex. I do like how this is looking at the moment, but we need to remain on the sidelines and let this pair play out a bit more. Especially since we are already in a trade with a YEN pair. Like I said watching very closely and if I see anything for us I will let you all know!
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
UJ pushed up very nicely hitting previously anticipated key level of 110. Its is important to respect the key psychological levels. UJ is at a make it or break out level. We need to be very cautious for fake outs, the more patient we are the clearer its true direction will become.
UsdJpy- flirting with resistanceAfter the false break of 108.50 support, UsdJpy has reversed aggressively gaining almost 200 pips in just 2 trading days.
The pair is trading in resistance level now @ 109.63.
A daily close above this level would expose 111.00 resistance and 112.00 furthermore.
A dive under 108.40 would negate this scenario
USDJPY: Fading opportunities plentiful USDJPY priced well for fading opportunities from here following a knee jerk reaction to US/Iran de escalations.
- Subdued VIX vol may see a large risk on event scenario as we enter equities earning season.
- Response to US/Iran sanctions may see capital flow into JPY
- +5.00% move on the ticket on a technical break and conviction through the 200DMA.
VIX Analysis Update
#USDJPY, Will the increases hold up?There is a very strong support line at $ 104.6 as you can see in the graph above.
Mini resistance at $ 109.6
The USDJPY is still accompanied by a green Ichimoku cloud which is a bullish sign but the candles are not yet above the cloud which is the ideal in a buy signal.
According to the Stochastic USDJPY in Oversold, this is the ideal time to buy.
RSI is in a very low area which is also a bullish sign.
Goal: 109.5
Stop loss: 107.65
USDJPY long trade @Day chartUSDJPY
The long term downtrend was broken in September 2019..The major upside resistance is 109.500.
And this pair trading in a range and will fall towards 107.450.
From this level we can open long positions and potential take profit will be 110.500.
Stop lose may placed at 106.500 level.