USDJPY is trading at supply zone at all important time frames which is High Resistance Level.
At 4hr and 1D Double top pattern has been formed which is extremely bearish in nature.
A range has been formed in 1HR time frame.
Looking for breakdown of that range that I have marked in Rectangle. As range breaks, with confirmation of volume and candle, I will enter...
USD/JPY – The Greenback rallied against the Japanese Yen at 136.05 at the New York close from Friday’s opening of 135.65. The 10-basis point rise in the benchmark US 10-year bond yield (3.08%) contrasted with a flat finish in Japan’s 10-year JGB rate of 0.24%. Which had more impact on USD/JPY than the assassination of former PM Abe.
Looking for Buying Opportunities in it.
Price is extremely bullish
Idea - Breakout traders can go long once level of 136.736 is taken out while Pullback traders should wait for the retracement to go long.
Major Pivot - 136.500
Caution - The trend is a bit overextended.
Usually 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...
FOREXCOM:USDJPY
Hi Everyone
This is an Neowave Count for USD/JPY. This currency pair is trading in wave-5 of intermediate degree.
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As seen in monthly chart of USDJPY, inverted head and shoulder is formed. Breakout above 127.50/128 with volumes will make it run to multi decade highs.
Likely scenario: With current global inflation, BOJ is forced to abandon its yield curve control strategy, that brings the yen devaluation option to the forefront.
God bless us all!!!
Triangle patter formation on USDJPY on a 1hr timeframe ! Target should be around 116.60$ !
🚫Disclaimer:
I'm not an financial analyst! I'm sharing this with public! It just learning purpose only! If u find anything wrong with this post ! U can tell me ⬇️ comments!
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USDJPY swept the equal low yesterday on NY session. And produced a Bullish Break of Structure. Currently we're expecting price to return back to the origin. And in the process clearing the newly formed equal lows.
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#USDJPY daily bias looks bullish. The buyer’s price of interests are 113.41, 113.19
The possible targets are 114.32, 114.54
These analysis are based on the current market swing and we update our views based on the upcoming future swings
