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USDJPY

#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 136.144 Next Zone area & horizontal swing Low support 1st Resistance 146.840 Zone area & horizontal swing high resistance
Long
by Skandhatrade
USDJPY bears brace for 136.00A clear downside break of the 100-DMA, as well as a daily closing below July’s peak, keeps USDJPY sellers hopeful. However, a convergence of the 61.8% Fibonacci retracement level of the May-October upside and an upward-sloping support line from May 24, around 136.00, appears a tough nut to crack for the bears. Following that, a slump toward the 200-DMA support of 132.70 can’t be ruled out. However, an area comprising multiple levels marked since late April, around 131.25-50, could challenge the pair’s further downside. Alternatively, recovery moves need to stay beyond the 100-DMA support level surrounding 140.75-80 to trigger short-term corrective buying. Even so, 38.2% and 23.6% Fibonacci retracements, close to 142.20 and 145.90 in that order, could challenge the USDJPY buyers. In a case where the pair remains firmer past the 146.00 round figure, the odds of witnessing a run-up targeting the fresh 24-year high, currently around 152.00, can’t be ruled out. Overall, USDJPY sellers hold control but the downside room appears limited.
by MTradingGlobal
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 146.669 Next Zone area & horizontal swing Low support 1st Resistance 150.120 Zone area & horizontal swing high resistance
Short
by Skandhatrade
2
USDJPY bulls need to cross 147.70 to stay on the tableUSDJPY poked the year 1998 high on Thursday while piercing a weekly resistance line, staying near the immediate resistance line of late. That said, the RSI is overbought as the pair struggles with the 24-year high near 147.70, which in turn suggests hardships for the further upside move. If the quote crosses the 147.70 hurdle, its run-up towards an upward-sloping trend line from late April, near 149.00, and the 150.00 psychological magnet will become imminent. It’s worth noting, however, that the buyer’s dominance past 150.00 won’t hesitate to challenge the late 1990 peak surrounding 151.65. Meanwhile, sellers could take entries if the USDJPY pair breaks a 2.5-month-old support line, currently around 144.60. Following that, a south-run to late September low near 140.35 and then to the 140.00 round figure can’t be ruled out. However, July’s top near 139.40 could challenge the sellers afterward, failing to do so can draw a gradual south-run towards August month’s bottom close to 130.40. Overall, USDJPY is near the key resistances as the overbought RSI suggests that the bulls are running out of steam. Hence, a pullback is well-expected but the change of trend is off the table unless the quote breaks 144.60.
by MTradingGlobal
USDJPY bulls are bracing for 147.00USDJPY has been navigating inside the 300-pip trading range at a 24-year high in the last three weeks. Despite the yen pair’s latest inaction, the lower low on prices joins the lower bottom on the RSI (14), which in turn joins firmer MACD to keep the buyers hopeful. However, a clear upside break of 144.75, comprising the 78.6% Fibonacci Expansion (FE) of the pair’s late March to early August moves, becomes necessary to poke a five-month-old ascending trend line resistance near 147.00. During the rise, the latest swing top around 146.00 could probe the buyers while a successful rise beyond the 147.00 hurdle might flash the 150.00 threshold on the chart. Alternatively, the 21-DMA support around 142.60 may act as an immediate halt during the USDJPY pair’s pullback before highlighting the stated range’s bottom, including the 61.8% FE level near 141.60. In a case where the pair drops below 141.60, the 140.00 round figure and July’s high near 139.40 could lure the bears. It should be noted that the sustained downtrend past 139.40 could drag prices towards the 100-DMA support of 135.70. Overall, USDJPY remains on the buyer’s radar but needs a trigger to activate the next leg to the north.
by MTradingGlobal
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
USDJPY buy to sell ideaafter a strong bullish runup, in higher timeframe market is now currently ranging , in 4h timeframe market form double top liquidity and selloff which is more likely to be taken out so overall I am more bullish. the trading idea takes place in 1h timeframe, there was a large imbalance untested supply was there which is more likely to be tested. in current scenario market broke all its structure and there is resistance above so if market came to my defined demand then with confirmation i will go for long to that imbalance supply . as above it there was liquidity which needed to be taken out so i am not quite sure about the short idea
Long
by Rohit_Fx
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 146.835 Zone area & horizontal swing high resistance
Short
by Skandhatrade
USDJPY stays on the way to 150.00Despite the latest pullback from a 24-year high, the USDJPY remains inside a five-month-old megaphone formation suggesting a further widening of the uptrend. Even so, the overbought RSI (14) suggests a pullback of the yen pair, which in turn highlights a two-month-old horizontal support area surrounding 134.00-134.40. Following that, the 50-DMA and 100-DMA could test the pair sellers around 136.80 and 134.00 respectively. It’s worth noting that the stated megaphone’s lower line, near 132.40, appears the last defense for the pair buyers. Meanwhile, recovery moves may initially aim for the 78.6% Fibonacci Expansion (FE) of the pair’s late March to early August moves, near 144.75, before challenging the megaphone’s top, close to 145.75. In a case where USDJPY bulls keep reins, the tops marked during the June and August months of 1998, close to 146.80 and 147.70 in that order, could probe the upside momentum towards the 150.00 psychological magnet. Overall, a shift in the market sentiment isn’t a trend change and hence the bulls can keep control.
Long
by MTradingGlobal
#USDJPY it's possible to sell#USDJPY for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 135.314 Next Zone area & horizontal swing Low support 1st Resistance 142.090 Zone area & horizontal swing high resistance
Short
by Skandhatrade