Usdjpylongsetup
USDJPY approaching support, potential for a bounce!USDJPY is expected to drop to 1st support at 107.898 where it could potentially react off and up to 1st resistance at 109.852.
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USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Expecting more downside with UJ, I wanted to take a short trade but It didn’t quite fit my trade plan. Remember in this game patience is key there is always going to be another trade so you need to make sure you aren’t rushing into every opportunity that comes your way! I believe UJ could come lower to previous support around 108.30 If we do pull back to 109.5 I will be looking for rejections.
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Looking very interesting. I still feel we can push up to retest 110.00 but we need to stay above 109.5 before that happens. Favoring downside movement as this well so we will need to see how this pair plays out for now. It does look like the bulls are losing strength. No reasons for entries yet. We need to see another retest of resistance.
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
Looking pretty bullish. I feel the market is luring in sellers. UJ is conservatively moving higher and higher. I really believe that we could see a retest of 110.00 then UJ could completely melt to the downside. It is a bit too early to tell, but I am favoring more upside movement.
USDJPY Market Outlook | Daily Forex Market BreakdownUSDJPY
UJ displayed what looked like a good short opportunity then popped up around 50 pips. I was looking for a lower high giving us a good short trade, but we pushed right past and made a higher high. I will be key to see if we are going to continue to the upside and test 110.00. Not much movement with UJ recently. I feel we could pull back soon, will be looking for signs of a reversal. We need to see how the daily candle closes.
USDJPY approaching support, potential for a bounce!
USDJPY is expected to drop to 1st support at 108.845 where it could potentially react off and up to 1st resistance at 109.845.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.