The weekly right side is up against 75.57. The daily is turning down against 114.54 high from 10/4/2018. While below 111.67 where the hourly right side is down expect the pair lower. While the pullback remains above the 101.13 lows where the 4 hour is turning up it can see another swing higher to correct the cycle from the 10/4/18 highs.
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 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 The 4 hour right side is up in a bullish sequence relative to the 109.69 low of 3/24/19. Near term the 1 hour is turning down correcting the cycle up from the 3/24/19 lows before a turn back higher.
Sell USD/JPY
@111.00 /111.10
target: 110.60/25
Stop Loss: 111.40
Good Luck !
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
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=114.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=113.7.
TP4: S2=113.5.
Set the stoploss of these orders at breakout of R2=114.2.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
As You Can see the chart of USDJPY , Following Trendline.
Soon Trend line will break down so we can Short USDJPY.
We can put the target at
113.061
112.436
RSI Trend Line Already break soon price will follow the
RSI line,
Note: we need to short USDJPY only when Trend line breaks the trendline.
Note: This is only for Educational Purpose this is not an...
This is pair already in a bearish trend and adding to it , UJ was unable to break the market structure at (110.74) and also respected the trend line. Even since DXY is about to fall hard , expect really good movement to the 110.94 market zone.
USD/JPY Seems on Bearish channel, Now it's already on it's bearish resistance price @ 109.731.
If the price moves below 15 pips and bearish candle arise means there is a good possibility to continue the bearish channel until price @ 106.897.
If the market price breakout the 109.731 by bullish trend means there is a possibility for bullish trend until price @...
