Technical Analysis-The 4 hour is turning up against 3/09/2020 low (101.16). 1 hour is turning up against 105.96 low. Near-term correction against 3/09/2020 low is proposed complete at 105.96 low, while dips remain above that level expect pair to extend higher.
BUY USDJPY
@106.85-70
TP: 107.55
SL: 106.40
Good Luck !
Technical Analysis- The 4 hour is turning up against 3/09/2020 low (101.16). 1 hour is turning up against 106.71 low. Near-term correction against 3/09/2020 low is proposed complete at 105.96 low, while dips remain above 106.71 low and more importantly above 105.96 low expect pair to extend higher.
Long USDJPY
@107.10-107.00
TP: 107.80
Sl: 106.75
Good Luck !
The weekly right side is up against 75.57. The daily and 4 hour are turning up against the 3/9/20 lows. While a pullback remains above the 3/9/20 lows the pair can see another swing higher to correct the cycle lower from the 12/15/16 highs in the weekly triangle.
The weekly right side is up against 75.57. The daily and 4 hour are turning up against the 3/9/20 lows at 101.13. While a pullback remains above there the pair can see another swing higher to correct the cycle lower from the 12/15/16 highs in the weekly triangle.
Short term Signal
BUY USDJPY
@107.50-25
Target: 108.50
Sl: 107.00
Good luck !
he pair is favored to remain in a cycle higher in wave (1) from the 8/26/19 lows where the daily is turning up. The 4 hour right side is up from the 107.63 lows where wave 4 ended. While a pullback remains above the 109.76 lows where the hourly is turning up the pair can see the 111.00 -111.50 area in wave 5 of (1) before it corrects the cycle up from the 8/26/19 lows.
The pair is favored to remain in a cycle higher in wave (1) from the 8/26/19 lows where the daily is turning up. The 4 & 1 hour are turning up from the 107.63 lows where wave 4 ended. While a pullback remains above there the pair can see the 111.00 area in wave 5 of (1) before it corrects the cycle up from the 8/26/19 lows
USDJPY has formed a classic inverted head and shoulder pattern on a daily basis. The prices are trading very close to the neckline and we might see a breakout soon. furthermore, the weekly chart has formed a bullish engulfing pattern as well that supports the bullish argument. Like always, the price can take two paths, the first one is highlighted by the blue...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (106.75). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
USDJPY Analysis: Price bought and is currently above support zone price 109.862 . We expecting price to test support line 109.862 for a possible breakthrough to next support if not expect price to continue the buy towards resistance 110.994 Long-term daily timeframe
We are doing USDJPY Analysis in Daily Time frame
You can keep an Eye on USDJPY it is forming rising channel pattern you can take a trade on the breakout of this pattern.
Note: This is only for Educational Purpose this is not Investment advice.
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Thanks
Adil Khan
