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Usdjpysell

USDJPY | Update | Next Move? USDJPY has been following parallel channel by its heart and core. We were long when it was at trendline support (Check USDJPY chart) and attempted short from the horizontal level (Check Chart). Currently we are expecting it will take a hit once again from horizontal level and price will come down. Alternatively price can break the resistance and test the channel top. To take the right trade wait for the price action and candle stick. Trade your levels accordingly
by JustTradeSignals
2
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