Get started

Usdjpybuy

usdjpy touching its major supportUsdjpy All jpy pair touching their lows during last fundamental jpy broke its zone of 130 which was acting as a support for one month.Now for this week we can see price movement within a descending channel and very soon price will test again a solid support zone of 126. Where we will see a little bullish move upside but remember for good and healthy trend move price should break this either on both side.. Around 126 zone all support acts like horizontal and and vertical if price hold this support zone after retest we can take entry within a following channel
Long
by forexomni
USDJPY: Bullish TriangleUsually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e . Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept at the point of completion of wave-e (conservative approach) or to the breakout level of wave-d to get the target of this pattern (aggressive approach)
Editors' picks
Long
by TradingSutra
7
USDJPY waits necline breakout of inverted H&SUSDJPY 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 arrows - neckline breach (sustains on a daily basis) to reach the first target of 110.472. If the prices sustain above this level, it will go for the next 112.00 hurdle. If this happens, we will have 107.00 as the stop loss. The second path is shown by orange arrows with prices first testing the tip of the second shoulder and then taking a breakout from the neckline. Either way, prices are headed for the 112.00 and in both cases, we will enter only when the neckline is breached and sustained.
Long
by forexnoobmaster007
1