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Usdjpyoutlook

USDJPY profit target reached perfectly again, time to buyBuy above 112.58. Stop loss at 112.21. Take profit at 113.75. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target from yesterday. We turn bullish above 112.58 support (Fibonacci retracement, Fibonacci projection, horizontal overlap support) for a push up to 113.75 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) is seeing strong support which is signalling to a price bounce.
Long
by theforexarmy
USDJPY October 24 Outlook and weekly forex analysisUSDJPY October 24 Outlook and weekly forex analysis As we can see, descending triangle pattern already perform since last October 12 on USD/JPY, as long as this pattern not break, play inside this pattern will be a perfect idea. In short position, stoploss above pattern resistance, and in long position stoploss below support level - if the pattern break down, september resistance will be a good support level on USDJPY this week, this level also as September 21 resistance, and october 09 support. If descending triangle pattern break down, this strong support zone will be a good tahe profit for shotr position and to consider re-entry long position. As we see with fibonacci pattern, 182.84 are 1.414 fibo point. In this week, if triangle pattern break down, this level will hold bearish movement. - if USD-JPY break up, we see inverted head and shoulders pattern perform. The best idea for this pattern are wait for neckline break, and entry at retest neckline. Target profit will be at inverted head and shoulders pattern projection. October 06 resistance are the neckline position for this week. To be able to confirm bullish trend in USDJPY, we should wait this neckline break first, and enter long position at neckline re-test. And we have a resistance (as lvl2 confirmation)
by AzrulAzir
1