Usdjpybuy
Bullish Pattern at the 100D EMA, USDJPY could go higherAfter a recent risk-off situation in the early part of this week due to the virus outbreak in China which Japanese Yen appreciating across the board, we are now seeing consolidation in USDJPY.
In fact, USDJPY has created a bullish candlestick pattern comprising off a DOJI and a bullish hammer.
What's more important is the fact that this formation has taken place at the 100D EMA.
All the above technical factor along with the fact that the stock market seems to be recovering gives us a pretty solid bullish bias.
So, I have bought USDJPY at 109.10 and will add more buys below 109 as long as the 108.70 number holds.
There is a good chance that UJ can go to 110.30 and 111 in the coming weeks.
USDJPY - FOREX - 24. JAN. 2020Welcome to our weekly trade setup ( USDJPY )!
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1 HOUR
Bearish price action towards previous support
4 HOUR
Very bearish structure in smaller timeframes
DAILY
Good long entries for mid/longterm trend.
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FOREX SETUP
BUY USDJPY
ENTRY LEVEL @ 109.180
SL @ 108.690
TP @ 110.130
RR: 2.0
Use 0.5% risk!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
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.