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Usdjpydaily

USD/JPYThe US dollar plummeted against the Japanese yen but did recover slightly during the Friday session. At this point, it looks as if there is a lot of selling pressure, so I think if we do rally at this point, a significant amount of resistance may cause some issues. At the first signs of exhaustion, I anticipate that there will be a lot of traders out there willing to short this market. That being said, the ¥112.50 level underneath should be a significant support level. To the upside, keep an eye on ¥115, because it is so important.
Short
by SmoothJB
2
Wave 5 complete and we gonna see more downside for the USDJPY?Is wave 5 complete and more downside to come for the USDJPY. We think this is unclear at this point of time and we should be seeing some kind of choppy wave action at these levels with a bias to the downside. If you want to trade the dollar yen, go for quick scalping trades with a bias towards shorting the top of the range. BEAR CASE If you manage to enter for a short at market opening next week, the pair is good for a short. BULL CASE Going for longs here is like catching a falling knife. I'd be cautious for longs until a clear range is formed.
Short
by IkanBilisCapital
USDJPY: Three Take-Profit prices on running Short! Previous update on analysis quoted reason for executed Short 116.183 Entry. Though 4Hr timeframe slightly differs, Daily has Three price-action prices for Take-profits on running Short. ie 114.442 | 114.242 | 113.991 Reasons: 112.645 | 114.242 zone is previous Support/Resistance zone likely to see Retest. 114.442 and 113.991 respectively, are 0.5% and 0.618 following Fibonacci Swing Lo-Hi retest zone. The quoted Three prices, if examined, could give reason to reverse the trade for upside breach at 116.183 for 117.254 | 118.713 zoned targets. Conservatively, further decline could see tests at zones: 112.873 | 112.440 112.259 | 111.505 & 111.826 | 110.684 Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Comment, Follow, (...) Thank you. Happy Trading.
Short
by legacyliked
USDJPY Short Opp 10/1/2022 15minLooking at a possible move here for USDJPY, couple things to take into consideration for this move. so we have dropped below a 'bullish formation' (falling wedge). taking a short is definitely a risky move due to the fact the optimal entry here is back within the formation so ideally looking for a takeout move back in before seeing a big drop back down signalling a big switch on momentum. we could also see a nice break and bullish bounce off of the support level, which would give some lovely upside targeting support at the top of the formation. I think price has showed its intention this morning with this volatile move down so chances could be we don't even get a test of my level, just a retest and continuation move down. this fib will change I am very early calling this swing low, price could easily move lower than where we are. just wait and see I'll keep an update on what I done with this play later but its something to watch especially at the NY open!
Short
by ryanc49
USDJPY short now or later? An overdue dip is looming for the dollar yen. Is this the point where we see some kind of correction downwards or do we have to endure another dump to the downside before this can happen? I think if the price structure breaks down from here, we should see some support at around 113. I don't think this structure is complete for a complete reversal. There's still a bullish overtone for US dollar. The 120 level is totally possible before the bull run ends for the us dollar.
Long
by IkanBilisCapital