Get started

Usdjpysignal

USDJPY Major Resistance: Short or Long? USDJPY has just rejected a major Weekly/Monthly support-resistance level. You can usually expect price to do one of two things once that happens, no matter the trend direction; retrace or breakout. My bias is and always resides with the trend , so I took advantage of this retracement (temporary move) to the 0.3 fib level to enter a short-term sell , before taking the long term buy at that same level , once the sell tp is hit. This scenario is valid as long as we reject and trade ABOVE the fib level. More conservative entry: wait for break and retest of resistance to take the buy. The TP for the long position will be 114.500, or the last higher high. The next Swing TP is 118.405, and the last TP will be 124.000. You can stay in the buy, from the fib lvl, to TP 1 & 2, so long as price doesn’t demonstrate too much resistance/rejects 114.500 . Simply put the SL for the buy to break-even and trail your profits after each new higher high. Nice tip to increase your r:r. We’re currently in an uptrend so that means buys only , but a sell scenario is possible and valid has long as we trade below the resistance level and demonstrate enough rejection of said level. The fib level might not hold, so if you’re already in the sell, (like demonstrated on the chart), just put your SL to break-even and trail your profits until 111.7000 , which is the next and final TP. You could re-enter again for a sell if price rejects the resistance on the daily and if sellers demonstrate enough strength . if we start trading below 111.7000, we’re entering a longer term (Monthly) downtrend towards 108.000 then 105.000. {edit; it's RSI in overbought, not oversold lol}
Long
by FrenchIvory
USD/JPY Analysis: Market could fall because of overbought zone. The USD/JPY continued its strong run last week, recording new daily gains on Friday in the US season. The pair remains poised for weekly advances of more than 1%. However, RSI is showing that the market holds onto an overbought zone that suggests caution to investors. So, we may see some profit-taking from this territory. USD?JPY may reward if prices correct lower due to increased risk appetite from traders following recent Fed statements and ECB meetings earlier this month. The FED and ECB were optimistic about future asset purchases by both central banks despite some uncertainty at present. It is one of the big reasons that the JPY is getting weaker against most major currencies. So, there is still the chance that USD/JPY may rise more based on fundamental analysis. But no one can ignore technical analysis. Based on price action, USD/JPY holds an overbought zone. So, it is expected that USD/JPY may sell-off because of profit-taking, but the overall fundamental trend may not change till the next FOMC meeting minutes. From the present rate of 114.20, the immediate resistance and reversal zone is 114.70 /115.00. Therefore, I think USD/JPY may reverse from this level to the 112.50 price zone before it rises again. To the upside, breaking above 115.00 will open the door for 116.00 (Fibonacci 61.8% Retracement Zone). USD/JPY may take some time to break above 116.00 because investors will wait for the next FED and ECB speech about asset purchase. In case the FED refuses to purchase assets this year, USD/JPY will drop massively. But if the FED starts the asset purchase program, there is more chance that the USD/JPY may revisit the 118.50/118.70 Price zone. On the other hand, from the present rate, immediate support is identifying at 112.50 price zone. Therefore, I expect the market to go for correction because of profit-taking from the current price of 114.20. Breaking below 112.50 will open the door for the 110.70/110.50 price zone. 110.50 hold as ascending trendline support and breaking below 110.50, next target 109.00. and finally 105.10.
by Gold_Trading_Expert
1
20th September 2021: USDJPY Losing Momentum $108.00FX:USDJPY will be likely losing its trend next week. This projection will be lead to the price of $108.00 in near future. While waiting for the economic projection on FED 21-22 September 2021 news, the market will turns slow as all trader waiting for the news result. As many statement on the market analysis, FED will be unlikely to announce tapering next week. While the stimulus on the dollar has diminish, this will give advantages to other intrusment on hedging against the Dollar. “In the U.S., the key focus of next week will be the Federal Reserve’s meeting, though it may prove unextraordinary. After what was a disappointing August jobs report, it’s unlikely we’ll see the Fed formally announce the tapering of its outsized asset purchases. We do, however, still see that occurring this year, so we’ll be closely following Powell’s press conference for clues on the exact timing.” On the other side of sentiment and position contract, fund manager and commercial trader has been locked their selling position on Dollar next week versus the Japaneses Yen. The tide has change for next week and looking towards the Dollar find support at $108.00 versus the Yen. Zezu Zaza 2048
Short
by Zezu_Zaza
USDJPY | Perspective for the new weekPrice did not move as expected from our last speculation on this pair (see link below for reference purposes) as Y109.200 became a very strong Demand level for the Yen. Tendency: Downtrend (Bearish) Structure: Breakout | Supply & Demand | Trendline | Harmonic pattern (AB = CD) Observation: i. In the last 10 days and since the price broke down Y110.100 (Demand zone on the chart), the Greenback has gotten a little choppy against the Japanese yen as indecision continues to reign in the market. ii. With the non-farm payroll coming up in the week, participants remain cautious about doing anything other than simply trading in short-term range bound moves. iii. Multiple rejections of Y110.200 which also coincides with a 61.8% retracement of AB leg insinuates a transition into a Harmonic pattern (AB = CD) in the coming week(s)with parameters explained below; a. Impulse A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext . of the A-to-B move @ Y108.500 area. iv. Below Y109.800 Level (Key level) remains a comfortable area to take advantage of the intended Bearish bias as I look forward to a Breakdown/Retest of the Trendline in the coming week. v. And a further Breakdown of the channel at Y109.400 shall welcome an opportunity to add to our existing position... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:3 Potential Duration: 2 to 5days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
Short
by darcsherry