Usdjpyidea
USDJPY buy from current levelUSDJPY buy from current level
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USDJPY ANALYSIS ANALYSIS
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DAILY TF: BULLISH CANDLES SHOWING WEAK MOMENTUM
4HR TF: BREAK OF RECENT LOWER HIGH
1HR: RECENT HIGHER LOW BROKEN
PLAN OF ACTION
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- WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR TF TO COMPLETE BEFORE TAKING SELLS
- IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND BUY TRADES
ENTRY REASON
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- BREAK OF CORRECTION PHASE
STOP LOSS @ TO BE DETERMINED AFTER CORRECTION
TAKE PROFIT @ NEXT ZONE
USD/JPY SELL IDEAHey tradomaniacs,
welcome to another free trading-setup.
Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmatio!
USD/JPY: Daytrade-Preparation
Market-Sell: 105,420
Stop-Loss: 105,870
Point of Risk-Reduction: 105,000
Take-Profit: 104,370
Stop-Loss:38 pips
Risk: 0,5% - 1%
Risk-Reward: 2,35
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Peace and good trades
Irasor
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USD/JPY Short to 0.618 FibThis may be a risky one but looking to jump on a short from current price down to 0.618 Fibonacci as I was previously aiming for. There is support between current price and that target which it has just rebounded from, that is what makes this risky. Also JPY has been weak recently so this may be a risk not worth taking for some people.
TP - 104.264
UsdJpy near strong supportAfter breaking the falling trend line resistance at the end of January, UsdJpy also broke above horizontal 104.30 resistance and accelerated up and reached shy under 106 resistance.
Now the pair is in a normal correction and very close to this new support.
In my opinion, the trend for this pair has changed and we can expect a new leg up once this correction is finished.
I'm looking to buy UsdJpy and only a daily close under 104 would change my bullish outlook
USD/JPY Look For Further DropThis plummeted yesterday and this morning which made for a great trade on yesterdays idea to short. This is now at support so I expect some hold up at this point with a slight retrace before potentially breaking through the next support.
I do not expect much resistance to breaking this support so a short can be taken on the retrace at around 105 would be good. This approach is also to make up for the small risk/reward of the trade if I took the normal approach of entering after breaking support and entering on the retest.
TP is at 0.618 Fibonacci - 104.264