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Usdjpysell

USD/JPYThe US dollar initially rallied last week to reach towards the ¥115 level. That is an area that is a large, round, psychologically significant figure, and now it looks like we are ready to continue breaking down in the short term. The ¥112.50 level underneath could be a potential support level, and perhaps a potential target. At this point, we will continue to move based upon risk appetite more than anything else. I do believe that we will continue to see a lot of noisy behavior, but I think ¥112.50 is the target.
Short
by SmoothJB
USDJPY, watch out for the pullback So far our trade has gone just fine, I would say perfect, but Friday night and this morning he woke up in pullback, and it is right to lower the Stop Profit to avoid nasty surprises. On the H4 timeframe we are right now on the MML and I hope it is resistant enough to block the bullish impulse, but let's see where to best place the Stop. Plotting a Fibonacci on the last bearish vector I decided to set the SP at 61.8%, so as to give the price the possibility to go up to a possible 50%. New Stop Profit Level: 115.25
Short
by The_Cyclical_Trading
1
USD/JPYThe US dollar plummeted against the Japanese yen but did recover slightly during the Friday session. At this point, it looks as if there is a lot of selling pressure, so I think if we do rally at this point, a significant amount of resistance may cause some issues. At the first signs of exhaustion, I anticipate that there will be a lot of traders out there willing to short this market. That being said, the ¥112.50 level underneath should be a significant support level. To the upside, keep an eye on ¥115, because it is so important.
Short
by SmoothJB
2
Wave 5 complete and we gonna see more downside for the USDJPY?Is wave 5 complete and more downside to come for the USDJPY. We think this is unclear at this point of time and we should be seeing some kind of choppy wave action at these levels with a bias to the downside. If you want to trade the dollar yen, go for quick scalping trades with a bias towards shorting the top of the range. BEAR CASE If you manage to enter for a short at market opening next week, the pair is good for a short. BULL CASE Going for longs here is like catching a falling knife. I'd be cautious for longs until a clear range is formed.
Short
by IkanBilisCapital
USDJPY short now or later? An overdue dip is looming for the dollar yen. Is this the point where we see some kind of correction downwards or do we have to endure another dump to the downside before this can happen? I think if the price structure breaks down from here, we should see some support at around 113. I don't think this structure is complete for a complete reversal. There's still a bullish overtone for US dollar. The 120 level is totally possible before the bull run ends for the us dollar.
Long
by IkanBilisCapital
Forex Today: USD/JPY Close to 5-Year High PriceMost markets are sideways as the new year opens quietly. Asian stock markets are mostly lower. In the Forex market, we see a strong US dollar, and continued weakness in the Japanese yen. This puts a bullish USD/JPY at the center of today’s Forex market. The currency pair is close to testing its 5-year high made a few weeks ago. A failure to rise beyond 115.40 may give a short trade opportunity. The UK, USA, Canada, and Italy have public holidays today, but US stock markets will be open. Over 1.8 million new coronavirus cases were confirmed yesterday globally, as infections soar dramatically to new records. Preliminary data suggests that the omicron coronavirus variant, while considerably more infectious, has notably milder effects than previous coronavirus strains, with an estimated 70% reduction in the probability of hospitalization. This is potentially very good news for both health and economy, so stock markets have been broadly bullish. It is estimated that 58.3% of the world’s population has received at least one dose of a coronavirus vaccination. Total confirmed new coronavirus cases worldwide stand at over 290.6 million with an average case fatality rate of 1.88%. The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Algeria, Argentina, Australia, Bahamas, Barbados, Belize, Canada, Colombia, Croatia, Cyprus, Denmark, Estonia, Ethiopia, Finland, France, Greece, Iceland, Israel, Italy, Jamaica, Kuwait, Lebanon, Luxembourg, Mali, Malta, Montenegro, Portugal, Qatar, Spain, Sweden, Switzerland, Turkey, the UAE, the UK, Uruguay, and the USA
Short
by SmoothJB