Reason for Bullish
USDJPY Correlation
In fact, what drives the USD/JPY pair the most is monetary policy divergence between the Fed and the BoJ and risk sentiment. In normal times, when there's risk on sentiment you can see the USD/JPY appreciating all else being equal, while during risk off flows you can see the JPY gaining strength.
USDJPY 1D Timeframe Projection
DISCLAIMER: All labelling and wave counts are done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't be bias, hope on my trade plans...try to learn, and make your strategy... Following is not that easy...
Looking at the H1 chart we see that the price is in wave 4
- Wave 4 target at price range 156.55
- Then the price continues wave 5 with wave targets at 157.4 and 157.83
We watch to buy at 156.55 after the candlestick reversal signal appears
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a...
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With the BOJ's intervention becoming increasingly clear, people are expecting the BOJ to increase interest rates 3 times this year and will begin the first increase in June.
We use the Elliot principle to analyze the USDJPY...
The price has cleared 151 lvl and halting near the resistance 151.950 or 152 as rd fig
this resistance is monthly high
expected the price to go sideways and make a build up before making the breakout
also as decided in the post of DXY, similarly here some fair value area are let behind after strong one side up move
149.700 to 149.550 there is good fvg to...
FX:USDJPY
As you can see that, USDJPY has formed a good resistance in 15min Time frame, if it gives breakout then we can plan for buy side. Take retest entry and plan your trade accordingly.... This trade is for monday (25-09-23).....
FX:USDJPY
As you can see that, In 1Hr Time frame USDJPY has created a head and shoulder pattern. if it breaks the drawn neckline level then we can plan for sell side. This set-up is for monday (21-08-23) Plan your trade accordingly....
1. for pullback trader or people on short side will trade based on lower low and lower high formation
but price movement on down side is bit slow and steady
if price reacts on 2nd poi but,
does not break the recent (internal lower low) of 141.500
and makes higher low this make the short trade very choppy mind exhaustion
2. for long side trader price might...
1. Trade pullback ?
>>> let price get back to POI for entry with sl above POI
(offers good R:R)
>>> follow the lower high lower lows pattern
>>> exit on price switching to higher low
2. Conservative Trade ?
>>> wait for the price to get a DISCOUNTED ZONE
(fib 0.5 from recent swing low to high)
>>> long on swing making higher low and higher high
(avoid...
FX:USDJPY
As you can see that, From past 1week USDJPY is in uptrend and now it is going to take some consolidation and pullback like SMC. Created a horizontal good support and it is good to scalp and capture some pips. take retest entries. plan your trade accordingly....
FX:USDJPY
As you can see USDJPY has created a channel and it already given a breakout in 4HR timeframe, wait for pull back and taken entry on buy side. plan your trade accordingly...
FX:USDJPY
A Good Consolidation flag breakout has seen in USDJPY, if it gives breakout and retest then take entry.
plan your trade accordingly and manage your risk to reward ratio.
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...
we have got extended move to the downside, + we have even achieved 3x ADR + 3(psychological no.) pushes to the upside market makers have formed sweet M which tells we are going to mark down phase
