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USDJPY

USDJPY eyes further losses, 112.80 is the keyUSDJPY extends pullback from a four-year high, recently failed to keep the bounce off 113.50, amid downbeat MACD and RSI. That said, the yen pair’s further downside will poke the 100-DMA level of 113.25 but the previous resistance line from March 2021, around 112.80, could challenge the bears afterward. It should be noted, however, that a clear downside break of 112.80, won’t hesitate to direct the pair sellers towards tops marked in early October and May 2021, respectively around 112.00 and 111.65. Meanwhile, recovery moves can initially aim for the three-week-old resistance line near 114.50 before challenging the 20-DMA level surrounding 114.85. If USDJPY prices rise past 114.85, November 2021 peak near 115.50 will be in focus as it holds the key to the pair’s further advances targeting a fresh high of 2022, currently around 116.35. To sum up, USDJPY is expected to witness further declines but the bullish trend remains intact until the quote stays beyond 112.80.
Short
by MTradingGlobal
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.
by MTradingGlobal
1
#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
Short
by Skandhatrade
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.
Short
by MTradingGlobal
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
Short
by For3xScalper
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.
Short
by Aditya_Mishra1
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
Short
by Aditya_Mishra1
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.
by AbhilashHazarika