The daily is turning up against the 3/09/2020 lows at 101.19. The 4 hour is turning down against 109.86. While below 108.17 the pair can see a swing lower toward 104.28 to correct the cycle up from the 3/09/2020 lows.
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 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.
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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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:
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
RSI Trend Line Already break soon price will follow the
Note: we need to short USDJPY only when Trend line breaks the trendline.
Note: This is only for Educational Purpose this is not an...