USD/JPY YEN Trading Idea for IW21 (23/05/2017)Opportunity spotted !
H4 Double Long tails formed, first tail is higher than second tail.
Based on past candle pattern, further downside could be expected.
Trades for next week ;)
Yenpairs
USD/JPY - Short OpportunityPrice is in a downwards channel and has slipped under old support, it has tried to pass this area (111.687) twice now and has failed to do so. This could be a very nice short opportunity.
Entry - 110.870
TP 1 - 110.460
TP 2 - 109.762
TP 3 - 109.292
TP 4 (Target) - 108.739
JAPAN225 POTENTIAL SHORT OPPORTUNITY Japenese index Nikkei225 - Price under major daily and weekly resistance. Good short trade with great risk to reward. This correlates with jpy currency strength.
AUDJPY looking for upward movement if and only if..Bulls still in control of this pair after the breakout. My take profit area will be :
a) TP1 84.05
b) TP2 85.20
c) TP3 85.68
Failing to break-thru 84.05 will give a sign for reversal and closing the gap.
Opportunity to Short USDJPY with a good risk and rewardJust for your information, i am still holding my buy at the latest breakout in Trend line.
This short is for short-term only with a good risk and reward.
Trade at your own risk.
GBPJPY Looking for Short with small lot sizeThe breakout is so incline worried me a little because a breakout with angle more than 45' degree is a sign for it to go even further up. and that is why i'm going short with small lot size and tight Stop Loss.
Short because the cycle seems to end approaching the previous Resistance. Trade at your own risk.
More downside for YEN?Hey guys, Ive been tracking yen futures and posting updates for forex fb group. This is good to look at for JPY pairs. Looking for more downside on YEN, so upside for xxx/JPY pairs
USD/JPY MONTHLY Short/Bearish Trend. Correction or recession?Great opportunity to short usd/jpy for a long ride down. This is in correlation with USD weakness under trump presidency and also global indices calling for a huge correction on monthly charts. This analysis indicating a major sell off in USD. That could possibly be a geopolitical event maybe north korea/russia and US?? Its like the market predicting and indicating to us that something big is coming!! and Technically I see major fall in usd and strength in jpy and gold.
JPN255 for Yen pairsDescription within chart markup.
Slight bullish movements with overall outlook of bearish.
GBJPY : Long Setup towards 150.00WXY formation is almost finished near 50% retracement. 138 and 140 are key levels for successive breakout.
Is USD/JPY ready for a bounce? Here is the level to watch.I don't like picking bottoms, however, buyers have stepped up ahead of the 1.08 level.
This is a 2-day chart. There are two scenarios I see playing out.
1. This is a large retracement from 100-118 range and we are headed back toward the 118 level.
2. A series of lower lows, lower highs has started and we are heading back toward 100.00
The Key Level
I believe 112 is the key level. A sustained move above and scenario one has a better probability of playing out. A failure there and scenario 2 seems more likely.
I have a limit buy order at 108.90, targeting the 112 level.
Yen April 2017It has met its first target already. Expecting some pullback or consolidation to happen first. From there we can see if Yen would have strength for another run.
USDJPY SHORTPink dashed lines are levels where I would like price to play resistance bounce and trade onto the downside towards the previous day EQ & taking out the lows then to the structure low 110.241. I'll like to see clear rejection from the pink zone (Breaker) to get involved but right now I am sitting on my hands.
Japan225 - Bearish Trend Scenario Japan225 - Bearish Trend Scenario
Japenese index Nikkei225 recently broke and retested an ascending triangle pattern on the daily chart suggesting more downside for this index and also big strength for jpy pairs according to their correlation. If you look at the weekly chart of japan225, you can see the trump rally has lost its momentum with multiple dojis/shooting stars indicating that the pending correction is coming very soon. Potential targets for retracements is the fib 50% and 61.8% level which is also in confluence with a structured weekly support. if this analysis play out we can see big strength in jpy pairs, I can see gbp/jpy hitting 130 and usd/jpy hitting 106 in the coming days/weeks.
The Break Of the Falling WedgeSounds like a book title.!
Falling Wedge + price heading for resistance. we can expect 113-114
Enjoy.
Comment below. for more frequent signals message me.
CADJPY Breaks Key Support but Keep an Eye on 83.55On Friday the CADJPY broke below the 84.60 handle. This level supported the pair on December 5th of last year but had more recently attracted buyers on February 28th and March 9th.
Today’s high of 84.61 illustrates a retest of this area as new resistance. And last week’s breakdown suggests that we could see prices continue to slide lower over the next few sessions.
However, there is an area of support not far below the current price that I’m keeping a very close eye on. The 83.55 handle is the intersection of descending channel support and a horizontal level that played a crucial role between February and June of last year.
The 83.55 level is also the 38.2% Fibonacci retracement when measuring from the 2016 low at 74.80 to the high at 88.91.
If we compare the descending channel below to last year’s rally, the price action since mid-December does appear to be corrective. As such, I’m currently labeling the structure a bull flag, which could generate an impressive move higher over the coming weeks and months.
But the key word there is could. While the past five months of price action looks relatively bullish, we won’t have any concrete answers until buyers manage a close above channel resistance.
As for the 83.55 area, I’ll be watching for bullish price action should we get a retest over the next few sessions. Of course, another option is to wait for the pair to break consolidation first, but with a 300 pip range that may not happen for quite some time.
USDJPY Eyes February Double Bottom After Breaking 113.25 SupportThe USDJPY bulls failed to hold prices above the 113.25 handle on Friday. I mentioned this level on Thursday as one that stood in the way of downside targets.
With the pair now well below this mark on a weekly closing basis, any retest of 113.25 will likely encounter selling pressure. I wouldn’t be surprised to see a reversion to this level given the fact the pair is now more than 100 pips below the mean as measured by the 10 and 20 EMAs.
The February double bottom at 111.70 outlines key support for the week ahead. This is a must hold level for buyers as a daily close below it would pave the way for a move toward the 110.00 area.
For now, I’ll remain on the sideline to watch what transpires if and when 113.25 gets challenged as new resistance.
USDJPY longUSDJPY broke 4H structure and downtrend in the middle of the week
and now we can see pullback to areas below and after PA confirmation
we shall see a big movement up.
Next confirmation to buy USDJPY will be after breaking previous highs.
We can see a strong dollar this week, so after pullback i will be looking for
opportunities to long dolar!
Don't forget to trade with proper RM/MM and caution.
Good luck Traders
Break hourly bearish trend-CADJPYPrice has broken that hourly trend line. If price brokes resistance, we can project price till the next resistance level.
EURJPYeurjpy testing the major whole after a strong rejection at daily 38.2 fib retracement. If price prints above my baseline this would confirm the long
targeting 122.500 for a swing trade.
