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
USD/JPY Looking for Short on CorrectionThis has seen strong growth in the past 2 weeks and is now at a level were there has previously been resistance. It was also overbought on RSI recently. With this in mind I am looking for a possible short to at least 0.382 Fibonacci. Entry now would be quite risky as MACD is still bullish and EMA's are still long so a safer entry would be to wait for a drop and then enter on a retest of the area.
The termination of the Diagonal patternLet us first point out that the price is forming a Triangular pattern in the weekly chart. The price is currently in wave D of this pattern.
(Daily Chart)
In the daily chart, the first uptrend (wave A) has ended in the range of 111.68 and the price with the Diagonal pattern has completed the corrective phase of this uptrend in the range of 102.59. By crossing the price from the range of 105.67, the initial confirmation of the uptrend will be received, and now we need 5 waves pattern.
In the 240-minute chart and by monitoring the details, we see that 3 waves out of the first 5 waves are composed, and the price can extend the uptrend after a corrective movement that can be developed up to the range of 105.19 to 104.84.
The range of 104.39 is very important to us.
USDJPY short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
USD/JPY Upward Channel Trade.Hello traders, USD/JPY is trading at 104.90. The price is trading in upward resistance and support channel, it can go down from here as it has already touched its resistance level. As the price has touched resistance level it can rebound back from here to touch support level, If price breaks 104.73 level then it can hit first target at 104.43 and second target at 104.04.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
USDJPY LONG SETUPLooking for continued Bullish momentum on this pair.
Monthly : Bullish. Engulfing
Daily : Structure break to the upside. 2 points on trend line says start of trend to the upside.
4hr : Fibs placed waiting for pullback into the 61 level.
1hr : keep patient waiting for a candle pattern to signal entry.
USDJPY, Following DOLLAR.?As salam alaikum
DXY making some positive recovery.
Same goes for UC,UJ as well.
We might dip XXXUSD pairs pretty hard.
T.A review:
UJ is trying to break 103 zone but Dollar
has made recovery. A strong Symmetric
Channel can be seen on Monthly, Weekly TF.
Seems like 103 zone is respected.
We're going up depending upon the coming
weeks fundamentals.