USDJPY
expanding triangle ??!!USD/JPY
the price still in a correction and forming an expanding triangle in its last state we need to see the price fall to 111.6 then we can go long again
s1 114.30
s2 111.60
s3 110.80
r1 118.00
r2 121.00
daily macd and daily rsi is bearish with an extremely dangers divergence in both of them
looking to sell at the moment
USDJPY Trend Analysis over H4 Chart.Overall, USD/JPY is trending upwards.
Japanese banks will be closed today in observance of Coming-of-Age-Day. Expect lower trading volume and volatility during the usual Japanese market hours.
USD/JPY’s next support zone is at 115.300 and the next resistance zone is at 118.000.
Look for short-term selling opportunities of USD/JPY.
USDJPY eyes further losses but bulls keep reinsA clear downside break of 50-SMA, as well as November’s peak, near 115.50 challenges the USDJPY pair’s recent rebound. However, 100-SMA and an upward sloping support line from December 03, respectively around 114.80 and 114.40, will restrict the yen pair’s additional losses, backed by nearly oversold RSI conditions. Should bears conquer the stated trend line support, 61.8% and 78.6% Fibonacci retracement of December-January upside, around 114.00 and 113.35, will act as additional supports before directing sellers to December’s low of 112.52.
On the contrary, a daily closing beyond 115.50 will push back the short-term bearish bias, a break of which will highlight the weekly resistance line around 115.90. In a case where USDJPY rises past 115.90, the run-up to the 116.00 threshold and January’s peak of 116.35 can’t be ruled out. In a case where buyers dominate past 116.35, the 117.00 round figure may act as an intermediate halt during the rally aiming December 2016 peak around 118.65-70. To sum up, USDJPY witnesses a pullback and the same is likely to last for now but a reversal of the bullish trend is off the table.
#USDJPY it's possible to sell#USDJPY Price trading nearby weekly 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 nearby weekly resistance area
moving to the next level support
waiting for bearish candlestick formation
1st support:
114.327
Next Zone area & horizontal swing Low support
1st Resistance
116.639
Zone area & horizontal swing high resistance
USDJPY bears need validation from 112.50USDJPY bulls struggle to extend Friday’s bounce towards the immediate hurdle surrounding 50-DMA, near 113.45. The lackluster momentum could also be witnessed through RSI conditions, which in turn favors odds of a pullback to 112.50-45 support confluence comprising the previous support line from March and a three-week-old falling trend line. It’s worth noting that a clear downside break of 112.45 will make the quote vulnerable enough to test the 200-DMA level of 111.60. During the fall, September’s top near 112.00 may offer an intermediate halt.
Alternatively, the USDJPY run-up beyond the 50-DMA level of 113.45 isn’t a green card to the buyers as the 114.00 and multiple highs close to 114.50 will challenge the further advances. Even if the quote rises past 114.50, the yearly high near 115.50 will be a tough nut to crack. To sum up, the pair buyers seem to have tired but the bears need a clear break of 112.50 for fresh entries.
USDJPY Trade Plan - 18/Nov/2021Hello Traders,
Hope you all are doing good!!
I expect UJ to go DOWN after this correction is finished.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
USDJPY potential dump incomingpossible scenario according to me on USDJPY- we have touched RWL (lowest point which the price can travel through the week) which was the level 1 drop of 1/4 hours cycle, + with this current continues drop a lot of retail traders fomo in to short and definitely MM have to shake out them before going for level 2 & 3 so they used todays news for this purpose as mm already knows what news is going to come and it will be positive or not, since we have touched RWH we really expect a good amount of distribution and spike to the high with stopping volume for wed- thus and on friday they should start going to break down for the reset of weekly levels (RWH&RWL) then we should go for RWL again till mon-tue and form W at wed and then same weekly cycle.
USDJPY Mark down phase starting!USDJPY) completed 4 hours cycle and 1 hour cycle, breakout of 1 hour cycle , divergence in 4 hours , M formation in JPY pairs, stopping volume, 3x ADR, RWL touched, BIG M pattern , stop hunt done type 2 london pattern.
USDJPY dropping , gold going for level 3 , AUDUSD big W formation playing out it just looks very perfect
and the best thing is that we have formed M pattern on Wednesday just like in previous EURUSD when we got that second leg stop hunt and it played out pretty perfectly
this distribution inside psy levels and that stop hunt is just soo perfect
there is a m pattern with shark fin + m pattern in chart too
We started this 4 hour cycle exactly 1 month ago! so if 15m in cycle works for 3 days and 1 hour cycle works for 2 week then this 4 hours cycle is PERFECTLY aligned with 1 month timeframe!!!!!!!!! (USDJPY)
so we can saw that this 4 hours cycle was a combo of 2 mark up 1 hour cycle that why on 1 oct that 1 hour cycle didnt work out and went straight for 1more 1 hr cycle to the upside
USDJPY Strategy today 18-19 OCT | USDJPY Forex Strategy 18-19octUSDJPY: We had plenty of opportunities in the past hopefully we will get another good trade again. Though the market is standing at a very strong resistance, still market is not going down. It clearly shows the presence of BUYERS in the market. And considering the trend of the market, we should mainly look for BUY opportunities only. Option 1: If market retraces and bounces from the 113.20, we can BUY. Option 2: If market breaks the FLAG PATTERN and starts trading above 114.40.
USDJPY Mark down phase starting!USDJPY - formed a M pattern (at Wednesday (mid week rev.)) + good stop hunt rise in the second leg + at the peak of each leg we got NY reversal + reached 3x ADR (RWL) + Stopping volume in 4 hours at both legs + BIG divergence in 4 hours + pairs against USD are forming W at 1 hour for 1 hour mark up phase + potential target - dont forget about 4 hours W we might go in level 2 retrace to daily 50 ema which is close to psy high
usdjpy short then longNotice that both weekly and daily candles closed with very strong bullish momentum. I expect a .618 retracement after the impulsive buys that happened this week and then we continue upwards again to 112.404 price level . Upon market open by Sunday night, I will be looking out for my sell confirmations. before buying up.