Usdjpylong
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.
Buy USDJPY : Inverted head and shoulder breakout USDJPY registered a breakout from the neckline of the inverted head and shoulder pattern on 4h chart. The prices are already close to achieving the first target of 107.274. A hold above this level, next target will be at 108.014. On the other hand, 106.497 and 106.115 are the support levels. Either of which can be the stop loss for the trade. So choose depending upon the risk you want to take.
USDJPY correction mode USDJPY moving in correction mode let for any reversal pattern will go with short position and if breakout happen then will go for long as arrow mention on chart
USDJPY (FXCM): Buy at 111.047 with SL at 110.555 Target 111.677USDJPY is a Buy at 111.047, SL 110.555 Target 111.677
USD/JPY Technical analysisThe daily chart of USD/JPY is currently in a downtrend.
The pair witnessed a strong buying action from the values of 105.
Now the pair is currently hovering around its 200 day moving average.
Earlier the pair was in the process of head and shoulder pattern but it was negated by the buyers.
We expect the buying pressure to further intensify once it crosses the trendline.
On the contrary there might be a correction for now and the bull rally can start after a small correction.
Also the ADX indicator is currently making a bullish crossover.
Taking all these into considerations, we expect the counter to be bullish .
Long once it crosses the trendline.
USD JPY @ 108.60USD JPY spot @ 107.78, now market is testing resistance @ 107.88, forming series of higher low, as it’s break resistance level, will test 108.60 then 108.90,
do not complicate with market, it's simple follow the price action
USD JPY @ 107.80 Forex Risk Management SolutionsUSD JPY Spot @ 106.90, In march this level have been tested several times, now we can expect as it’s break 106.90-92, inverted head and shoulder will be confirm. US $ will be strong and Yen will be week and we will see levels @ 107.80-84 and than 108.60
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