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Usdjpysetup

USDJPY | Perspective for the new weekMy last publication on this pair fetched us over 200 pips (see link below for reference purposes) and it appears another trading opportunity is coming in! The Greenback has been on a spiral downtrend until last week when price turned around to show signs of strength as it breaks out of Bearish trendline to set up a possible rally in the coming week(s). The Greenback appears to flex muscle as the idea of stimulus coming out of the United States lingers. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Trendline Observation: i. Breakout of Bearish Trendline and Support/Resistance (key level @ Y103.700) last week gives the impression that we might at least experience a change in trend. ii. With this Breakout, we might have to be patient to see the extent at which the corrective phase will go before hopping on the rally. Trading plan: BUY confirmation with a minimum potential profit of 120 pips. Risk/Reward : 1:3 Potential Duration: 2 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDJPY, 4hr tf, sell on area of confluence resistanceHello my friends, As you can see, USDJPY just rally for 100 pips in the last 2 days. In my opinion, this rally will be short lived as long as price below 103.70 on daily and 4hr tf basis. We could see further upside if price managed to closed above 103.70 on the daily tf. So as long as price below it, we will only sell on every rise (SOER). As you can see 103.70 is an important level because it previously served as horizontal support. Now that price already broken below it, this level will now become a resistance. Right now the 4hr tf EMA-200 also located at 103.70 area so we could say this is an area of confluence. I provide 2 trading plan where you could set your take profit. Feel free to choose either one. Sell USDJPY 103.70 Stop loss 104.00 Take profit 1 at 102.60 (3.6R) Take profit 2 at 101.20 (8.3R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
USDJPY, 4hr tf, sell on retest of resistanceHello my friends, This is the last week of 2020 and i hope we could book some profits before this year ends. It has been a hella ride for this year and the market was in high volatility through the year. After marking our support and resistance zone you will find out that 103.60 has acted as strong support previously. It could turn into strong resistance for USDJPY and we will sell USDJPY as long as price hold below it. I also draw an ascending trendline to marked the recent movement but price now breaking below it. Sell USDJPY 103.60 Stop loss 104.10 Take profit 102.85 (1.5R) RR Ratio 1 : 1.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
1
USDJPY, 4hr tf, sell wave-5 of elliott waveHello my friends, Another setup for today is USDJPY. Today JPY pairs offer us some interesting setup to trade so we will try to capitalize all the opportunity offered As you can see this recent movement could be marked with elliott wave marking. We already saw wave-1 to wave-4. I think we are going to see 1 more move to the downside which is wave-5. Remember that wave-4 can never touch wave-1 area so based on this principle we will use that as our stop loss. This trade offer us 2.5R opportunity so it is worth to try. Sell USDJPY 104.00 Stop loss 104.00 Take profit 103.00 (2.5R) RR Ratio 1 : 2.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
USDJPY Bearish Trend Continuation SetupSupport this analysis with your likes and comments! USDJPY reversed from a supply & demand zone that lined up with a 78.6 Fibonacci ratio and break out of the black counter trend line. The price also making a series of i-ii, (1), (2) Elliot Wave sequence which indicates a potential sell-off in wave (3) of iii. I'm patiently waiting for this market to commit to me by setting up sell stops order at the green lines on the chart while my invalidation level for this bearish scenario is the red line on the chart. What's your view on USDJPY? Kindly let me know in the comment. Regards, Veejahbee.
Short
by Veejahbee
USDJPY Bounced from the trend line support 107.00 level eyedUSDJPY Was bounced after touching the trend line which is acting as both support and resistance level. The main support level comes around 105.100 level which is a completion of ii Elliot wave and the starting point of iii Elliot wave. In between this iii Elliot wave we can expect some minor Elliot impulse waves from 1-5.The price is currently trading parallel to the consolidation phase which i have mentioned earlier. We must aware about the series of Higher low lower low and lower high which is a sign of minor bearish trend. Bull has to go above the 105.600 level so that it can reach up to 107.000 Level 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
Long
by forexorbit
2
USDJPY Making Trend for high MoveUSDJPY chart, here its clear that it'll be bearish, but when it will be bearish?4 So, in this chart i've clear that all it is about to go up & then move long down to complete its bearish pattern as well in the case of breakout then we will take it from the upper resistance. I hope you like this analysis & have get some idea about USDJPY Trade Area. Friends, push the like button, write a comment and share with your mates - that would be the best. THANK YOU! P. S. I personally open a Trade when i find entry point according to my strategy, Always make your analysis before a trade.
Long
by PiPumer
1
USDJPY, 2hr tf, sell below kumo cloud Hello my friends, Today is such a good day. It is very nice that before weekend i got my positions hit take profit. Before starting with today USDJPY setup, i am gonna post my XAUUSD setup which i posted at 30 September 2020 just hit my take profit. I posted to buy XAUUSD at 1889 and take profit was set at 1916. Price hit TP today, i booked +270pips and banking +6% profit. This is the link to my previous buy XAUUSD position OK, let's start with USDJPY sell setup for today. Based on the 2hr chart you could see price below the kumo cloud and parabolic SAR above the price indicating sell pressure. USDJPY dropped 60 pips today after Trump announced he's positive for COVID-19, triggering my sell signal to this pair. Sell USDJPY 105.30-20 Stop loss 105.75 Take profit 103.95 RR Ratio 1 : 3 Use only 1-2% risk Good luck Disclaimer : I sold USDJPY from 105.20 If you find this post useful, please give me a like and follow me for my next update
Short
by HayatoDragonFX