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Usdjpyidea

USDJPY: A RALLY EXPECTED.Hello traders, Dexter here with a quick update on USDJPY. This update is on the daily chart and if you are into forex trading then it is going to be helpful for you. After 84 days of bleeding reds, the USDJPY is showing some signs of recovery. A straight -16% drop has formed a falling wedge pattern and the current price action is indicating a rally around the corner. Currently, USDJPY has broken above the symmetrical pattern as well which looks good and if the market goes under the favor of bulls then we can expect the USDJPY to reach ¥138 in the coming days. The invalidation point for USDJPY will be ¥131.2 support level. Key points: * ¥131.2 support level. * ¥138 expected target. I hope this update was helpful to you. Trade safely.
Long
by Dexter_The_Trader
5
1,340 PIPS MOVEMENT ANTICIPATION ON USDJPYOn The daily timeframe , the entire structure of this asset has been bullish , though looking at the chart we can see a clear retracement in time, back to a bullish order block. Mostly when price is getting closer to an order block, it forms different patterns, in this case we see the formation of waves in a channel, using the Elliot Wave theory, there must be a five touch movement for the wave to be complete, the fifth touch should cause a breakout of the channel, and price will keep pushing higher in the direction of the breakout. Looking at the chart, what I've taken time to explain here is valid, so now what is my anticipation now is a little pull back to retest an order block that was left behind before the break out, and we can go long and target 1340 pips with a maximum of 200 pips stop loss, I personally don't use above 15 pips as my stop loss. Looking at the chart, a major inducement area is out target, cause price is always looking to take out inducement to power it movement. I also marked a major High, for education purposes, that high is what powers the last break of structure downward, once that high is taken, it further confirms the massive bullish movement, why ? Cause that'll act as our change of character. I hope this is informative, educative and profiting. You can always follow us for more contents like this. Have a nice day and happy trading.
Long
by Moshehm4
2
USDJPY Trading Plan - 8/Feb/2023Hello Traders, Hope you all are doing good!! I expect USDJPY to go Down after finishing this correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
2
#USDJPY- VERGE OF BULLS TAKING OVER!!Hey Traders, USDJPY has have faked movement in last two months since we had BOJ news on interest rate, the pair had reversed from over previous setup on #USDJPY. However, most things has changed since then firstly we have undecided DXY movement we have not had a clear dictative move. Hence, as we have NFP next week we are eying for DXY to drop until Friday as traders are eying on the data to be supporting for DXY. -Potential entry would be the area described in the chart, will keep you updated. Trade Safe and Good Luck!!!
Long
by Setupsfx_
22