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Usdjpylongsetup

USDJPY has made a strong bullish exit, upcoming rallyUSDJPY has shifted momentum strongly towards being bullish and we’re at a good level to enter a long trade. Buy above 106.35. Stop loss at 105.40. Take profit at 108.45. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending resistance-turned-support line meaning our momentum is shifting from bearish to bullish. We look to buy above major support at 106.35 (Fibonacci retracement, horizontal overlap support) for a strong push up to 108.45 resistance (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of intermediate resistance at 107.82 (Fibonacci retracement, horizontal swing high resistance). RSI (89) sees a bullish exit on RSI signalling a shift in momentum from bearish to bullish too.
Long
by MEX_Exchange
1
USDJPY has reached our profit target perfectly,further rise!USDJPY has made another bullish exit with great upside potential. Buy above 106.48. Stop loss at 105.81. Take profit at 108.51. Reason for the trading strategy (technically): Price has rose perfectly to our profit target and looks poised to rise further after breaking a strong descending resistance-turned-support line. We look to buy above 106.48 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to 108.51 (Fibonacci retracement, horizontal pullback resistance). We do have to be cautious about 107.78 resistance as price might react off that level. RSI (89) has made a similar bullish exit signalling a change in momentum from bearish to bullish.
Long
by MEX_Exchange
2
USDJPY has broken major resistance, potential upcoming rally!USDJPY has broken major descending resistance and also overlap resistance triggering a strong rally. We look to buy above major support at 106.41 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up all the way to 107.85 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (55) has made a similar bullish exit signaling that we’ve seen a change in momentum from bearish to bullish. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
USDJPY rising perfectly, remain bullish for a further riseUSDJPY has shot up perfectly and has surpassed our intermediate resistance, leading to a further rise. Buy above 106.41. Stop loss at 106.18. Take profit at 107.09. Reason for the trading strategy (technically): Price has rose perfectly to our first profit target and has surpassed that level. We are now seeing major support at 106.41 (breakout level, Fibonacci retracement, horizontal overlap support) that should provide the support we need to see price push up to 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (34) has made a nice bearish exit from our long term descending resistance-turned-support line signalling that a rally is expected.
Long
by MEX_Exchange
USDJPY facing massive bearish pressure, potential further drop!USDJPY is experiencing massive bearish pressure from our descending resistance line and we are seeing major resistance at 106.41 (Fibonacci retracement, horizontal overlap resistance). A drop could occur from this level to push price further down to 105.29 support (Fibonacci extension, horizontal swing low support). RSI (34) sees a descending resistance line add to our overall bearish sentiment on USDJPY. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
3
USDJPY starting to break out nicely, time to turn bullishUSDJPY has started to form a bullish exit, time to start buying to play the breakout. Buy above 105.85. Stop loss at 105.40. Take profit at 107.09. Reason for the trading strategy (technically): Price has started to break out of our descending resistance-turned-support line signalling that a change in momentum should be expected. We look to buy above major support at 105.85 (Fibonacci retracement, horizontal overlap support, breakout level) for a push up to at least 107.09 resistance (Fibonacci retracement, horizontal swing high resistance). We do have to be cautious with our immediate resistance at 106.44 (Fibonacci retracement, horizontal overlap resistance) which needs to be broken to open a further bullish recovery. RSI (34) sees descending resistance which coincides with our resistance at 106.44. A break above our descending resistance needs to occur before a further rise can be expected.
Long
by MEX_Exchange
1
USDJPY to Hold Support?A simple look at the daily chart shows a trend line that can be drawn from the previous lows and touches the current low in the Yen. It is a make or break level which if held could set up for a move back to the 1.10 level and possibly above. If the level does not hold then another strong push can be expected which would reach down toward the 1.05 level. It's important to look for triggers on the lower timeframes and if they don't fire off then stand aside and look for a move beneath the trend line to establish new short positions.
Long
by Andy_Garcia_CMT_CFTe
1
USDJPY dropped perfectly as forecasted, prepare for a bounce USDJPY dropped perfectly as forecasted and is seeing major support above 110.50 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at last 111.41 resistance (38.2% Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (55,5,3) is seeing major support above 2.5% where we expect further bullishness. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
USDJPY testing major resistance, intermediate correction could oUSDJPY is now testing major resistance at 111.41 (Fibonacci retracement, horizontal swing high resistance, bearish harmonic formation) and a drop from here could occur pushing price down to at least 110.60 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 97% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
USDJPY testing major resistance, prepare to sellSell below 111.42. Stop loss at 111.73. Take profit at 110.61. Reason for the trading strategy (technically): Price is testing major resistance at 111.42 (Fibonacci retracement, bearish bar harmonic formation) and we expect to see a strong reaction off this level to push price down towards 110.94 before 110.61 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 94% where a corresponding reaction could occur.
Short
by MEX_Exchange
USDJPY dropping nicely as forecasted!USDJPY has dropped nicely from our pullback resistance level of 110.96 as expected (major 50% Fibonacci retracement, horizontal overlap support stretching back to mid August 2017). More bears have jumped into this trade and this could drive price down towards 109.88 support (100% Fibonacci extension, Fibonacci retracement, swing low support). RSI (34) remains in a descending channel showing that there is still bearish momentum in this move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
3
USDJPY dropping from our pullback perfectly, remain bearishSell below 111.02. Stop loss at 111.97. Take profit at 109.49. Reason for the trading strategy (technically): Price made a pullback to our major support-turned-resistance line at 111.02 (Fibonacci retracement, horizontal overlap support) as expected and dropped strongly once again in line with the bearish view we have. We look to play the drop to at least 109.49 (Fibonacci retracement, horizontal overlap support, Fibonacci extension). RSI (55) has made a recent bearish exit which is in line with the bearish exit we’re seeing in price.
Short
by MEX_Exchange
USDJPY major support broken! USDJPY is making a pullback to our major support-turned-resistance level at 110.96 (major 50% Fibonacci retracement, horizontal overlap support stretching back to mid August 2017). This could be potentially a good level to trigger a strong sell off which could drive price down towards 109.88 support (100% Fibonacci extension, Fibonacci retracement, swing low support). RSI (34) remains in a descending channel showing that there is still bearish momentum in this move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
USDJPY breaking out nicely, remain bearishSell below 111.02. Stop loss at 111.97. Take profit at 109.49. Reason for the trading strategy (technically): Price has dropped strongly after breaking out of our major support-turned-resistance line at 111.02 (Fibonacci retracement, horizontal overlap support) and has started to make a pullback to our entry area once again. This is a good opportunity to get into the trade once again for those who missed the first breakout. We look to play the drop to at least 109.49 (Fibonacci retracement, horizontal overlap support, Fibonacci extension). RSI (55) has made a recent bearish exit which is in line with the bearish exit we’re seeing in price.
Short
by MEX_Exchange